Dogwifhat is back in the spotlight as traders start wondering if its latest bounce could lead to another massive move. The price is now sitting at $0.6418, up more than 15% over the past day. Trading volume has also jumped nearly 50%, which is catching the eye of those who remember WIF’s previous rallies.
On X, top analysts Erik and DaniB have shared different takes on what could come next. Erik focused on the daily chart and pointed out that WIF price just bounced off a key level known as the Smart Money (SM) reversal zone around $0.3175. He also highlighted how the price respected a green support box between $0.49 and $0.52, calling it a must-hold area if the bullish case is to play out.
Since that retest, WIF has been forming higher lows, a structure that often signals growing momentum. The next potential target? A previous Equal High (EQH) was around $0.7979. According to Erik’s chart, that’s the next major level to watch. Volume has also increased during the breakout, hinting that real buying pressure might be building. Still, if WIF price slips back below the green box, that setup could quickly fall apart.
What you'll learn 👉
WIF Market Sentiment Reignites Following Historical Monthly Pattern
A separate perspective was posted by DaniBb, who referenced a historical monthly candle where WIF price surged from $0.17 to $4.86 in a single move. The tweet posed the question of whether WIF could replicate that explosive 2,700% rally, which at the time took the market cap from $800 million to $4.8 billion within 30 days.
The monthly chart shows that WIF is now trading in a consolidation zone between $0.50 and $0.60 after a sharp decline from its all-time high. This same zone acted as the launchpad for the previous rally, leading some traders to speculate on a possible repeat. Still, the price remains below the 7-month EMA, which sits at $1.02, suggesting that any breakout attempt may face resistance.
Traders Monitor Dogwifhat Key Levels Amid Rising Volume
The combination of chart structure and renewed social media interest has placed WIF price back into focus. Holding above the $0.50 range and retesting $0.70 will be key in the short term. A sustained move past $0.80 could encourage momentum traders to reenter, potentially targeting higher zones.
While market participants analyze historical price patterns and current formations, attention remains on whether the conditions that fueled past gains could reappear. With volume and price climbing, WIF continues to be a token watched closely in the current market cycle.
Read Also: How Much XRP You Need to Become a Millionaire After Ripple’s SEC Victory
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Read our recent crypto market updates, news, and technical analysis here.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
