WIF has plummeted 86% from its all-time high (ATH) of 4.83 USD and is currently at 0.62 USD. The memecoin market is experiencing significant downturns, with a combined market cap decrease of 42%, creating uncertainty among investors.

The ongoing competition among over 11 million cryptocurrencies is further impeding WIF’s recovery. With the memecoin market showing substantial losses across various time frames, investors are questioning whether now is the time to buy low or wait for a potential rebound.