Dogwifhat ($WIF) smashed through $1.30 with a 7% increase, transforming its $1B market cap into a springboard toward $4.83. Solana’s pink-beanie meme coin is now absorbing selling pressure like a bull flag primed to snap.
With $1.1B in daily volume and whales stacking positions, $WIF threatens to outpace rival meme coins. But the question remains: Can this rally survive the ghost of failed community campaigns?
The $WIF Rally: Charting the Path to New Highs
Dogwifhat ($WIF) has emerged as a prominent Solana-based meme token, thriving not through technical utility but through strong community engagement and meme-driven culture.
Like other successful Solana meme coins such as $PEPE and $FLOKI, its popularity has drawn attention from major exchanges like Coinbase and Binance, significantly expanding its reach. Whale activity has also bolstered its momentum.
Earlier this month, large holders accumulated over $30 million worth of $WIF, while DeFi Dev Corp announced plans to launch a $WIF validator, allowing holders to earn passive income.
These developments reveal growing institutional and retail confidence in the token’s ecosystem.
Community-driven initiatives remain central to the growth strategy of Dogwifhat ($WIF).
For instance, the “WIF Hat Generator”—a tool allowing users to create custom images featuring the token’s iconic pink beanie mascot—seeks to strengthen brand engagement and virality. But not all campaigns have succeeded.
In March 2024, the community raised $700,000 in USDC to display the Dogwifhat logo on the Las Vegas Sphere’s digital screen, with plans for a Q1 2025 launch.
However, the effort collapsed after Sphere representatives clarified they had no agreement with $WIF and only accept Bitcoin-related crypto ads.
Reports suggest the Dogwifhat team attempted to broker a deal through a third party, but once Sphere publicly denied involvement—citing its anti-meme-coin policy—the intermediary backed out abruptly.
And subsequent attempts to pivot, including potential artist collaborations, also failed.
By April 2025, organizers officially scrapped the campaign and refunded donors, marking a rare setback in $WIF’s otherwise community-fueled rise. Nonetheless, the recent growth has prompted many analysts to speculate about its price trajectory.
WIFUSDT Maintains Uptrend Within Bullish Flag as Order Flow Shows Absorption
The price action of $WIFUSDT over recent sessions illustrates a market in a constructive pause following a strong rally.
On the candlestick chart, price carved out an impulsive climb from sub‑$1.00 levels to highs around $1.30 before entering a tight consolidation channel.
This formation has the clear structure of a bullish flag, with resistance forming between $1.28 and $1.30 and support holding between $1.22 and $1.23.
A flag of this nature typically reflects a digestion phase within a broader uptrend, often resolving in the direction of the preceding move when buyers regain control.
The accompanying volume footprint chart provides a deeper insight into market participation during this pause.
Despite several hours showing clear negative deltas, such as an hour with a delta of approximately—713K (negative) within a total of 10.44M, the asset’s price has not broken down, implying that sell-side pressure is being absorbed rather than driving a reversal.
On other intervals, green deltas, including one around +397K within 5.36M traded, confirm that there are still periods of aggressive buying interest pushing back against sellers. This balance of forces suggests that liquidity remains healthy, with demand quietly supporting prices during the consolidation.
Momentum indicators further reinforce this interpretation.
The RSI hovers near the low 60s, reflecting neither overbought nor weak conditions, which is quite consistent with a consolidating market rather than one topping out. Meanwhile, the MACD remains above zero.
This is important, as it confirms that the trend momentum remains positive, though the narrowing histogram suggests a temporary slowdown rather than an impending reversal.
The $1.28–$1.30 zone stands as the key overhead resistance for traders monitoring potential next moves.
If $WIF breaks decisively above this barrier, particularly with increasing volume, it could be the much-needed push for the next price pump.
On the other hand, if price action falters, the $1.22 level emerges as key near-term support; failure to hold here would likely see the pullback extend toward the more substantial $1.18–$1.20 demand zone, where we expect renewed buyer interest to materialize.
The flag pattern on the price chart, coupled with absorption indicators in order flow, suggests that once this consolidation phase resolves, the path of least resistance will remain upward.
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