Dogwifhat is having one of those quieter days in the market where the chart suddenly becomes way more important than the price itself.
WIF price is down nearly 2% today, and some traders are starting to wonder whether this pullback is just noise or the early signs of something bigger.
Much of this hesitation stems from the broader shift occurring in the altcoin market, where capital is gradually shifting towards more conservative investments as Bitcoin’s dominance continues to rise.
On top of that, this month, $19 billion in leveraged positions were wiped out in a day, and it is still making traders more cautious than usual. When leverage gets wiped out like that, sentiment doesn’t bounce back instantly. All of this is feeding into the current pause we’re seeing on WIF.
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What you'll learn 👉
What the WIF Chart Is Showing
The latest insight from analyst Matthew Dixon points to something interesting on the chart. There was hidden bullish divergence off the B-wave, which normally hints at eventual continuation to the upside.
At the same time, a hidden bearish divergence has also formed, creating a bit of a tug-of-war in momentum. The entire conversation now revolves around one level: the $0.619 area.
If Dogwifhat price can move above that and close convincingly, the pattern disappears with the path opening towards much higher targets, potentially reaching the full 100% extension of the previous A-wave near $1.41. Until that level breaks, the price remains pinned under short-term resistance.
Why the Pullback Happened
WIF price ran directly into a key resistance zone near the 38.2% Fibonacci retracement level at $0.5807, which tends to trigger profit-taking. The 30-day simple moving average also sat overhead like a ceiling, pushing the price back down.
Momentum on the chart is not terrible, but it has not shown a strong shift in favor of buyers either. The RSI is sitting around neutral territory, and the MACD line is still holding below its signal, which helps explain why the breakout lost steam almost instantly. Traders simply do not see enough evidence to chase the move.
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Here’s Why Sentiment Is Shifting Across All Altcoins
There is a bigger narrative forming underneath all of this. Capital is leaving speculative assets and flowing toward safer plays as Bitcoin dominance climbs past 59%. In that kind of environment, memecoins often get hit the hardest.
Trading volume on WIF has dipped slightly, while other Solana memecoins have continued to move, which suggests that this cooldown is not tied to fundamentals. It is simply the market pulling back some risk.
Moreover, October’s liquidation event still hangs in the background. Traders who were wiped out are not rushing back into leverage right away.
Open interest dropping further confirms that the appetite for aggressive positioning is still low. The broader mood in the market is balancing between cautious optimism and short-term uncertainty.
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WIF Price Outlook This Week
Over the next few sessions, the price action will all come down to whether or not WIF can reclaim that $0.619 level. If it does, momentum begins to shift in the bulls’ favor, the bearish divergence breaks, and the market can start aiming toward higher targets with confidence.
If Dogwifhat price stalls again and fails to push through resistance, WIF may revisit lower supports to build a stronger base. At the moment, the chart suggests that this is more likely a pause than a collapse, but confirmation is still needed.
Dogwifhat has already proven that when momentum returns, it can move aggressively. This week will reveal whether today’s hesitation is simply a breather before the next leg higher.
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