Dogwifhat (WIF) Price Analysis: A Movement, Not Just a Meme

According to Gate news from Coindoo, Dogwifhat (WIF) has experienced a bumpy trend recently, with the Token falling 12.40% in the past 24 hours and 22.20% in the past week. Over the past month, WIF has also declined by 20.59%, far below the historical high of $4.85 set in March 2024. Despite these pullbacks, long-term investors have not given up. In fact, on-chain data shows that Whales are increasing their holdings.

More than 30% of the total supply of WIF is held by the top ten wallets, indicating their strong belief.

The chart below shows pressure, with two significant falls exceeding 6.5%, forming a typical double-leg decline. The technical analysis indicates that unless the bulls reclaim the resistance level, the bearish signals will persist. So far, analysts have set short positions at $0.757, with a target price of $0.708 and a stop-loss price of $0.783. This suggests that unless there is a momentum reversal, there will be more downside potential in the short term.

However, the meme coin market does not operate solely on logic. WIF has proven that when speculation reaches its peak, it can bring explosive returns. This is no longer just a joke, but a movement. There are over 102,000 Dogwifhat holders, and the 24-hour trading volume has soared to $402.71 million, indicating that when the market awakens, WIF will also awaken. Such a surge in trading volume is often a precursor to greater volatility.

Analysis suggests that if the bulls return and trading volume remains strong, Dogwifhat may return to the $1.12 level in the coming weeks. After that, if momentum expands further, reaching $1.50 in the next 6-12 months is not impossible. However, if the stock fails to quickly regain resistance levels, it is expected to test lows around $0.70 before attempting to rebound.

According to Coindoo's research and the latest market trends, despite the recent pullback, Dogwifhat remains one of the most resilient meme coins in the market. If whales continue to accumulate and trading volume remains high, WIF may return to the $1.50 level within a few months.