With an explosive 20% rally on the daily followed by a cooldown, the WIF price is showing sharp spot volatility that could boost its end-of-week price outlook.
Dogwifhat has outpaced other notable meme coins with an early June rebound, escaping the profit-taking and panic selling that curbed WIF’s 330% rally off the mid-April market.
Now clear of that hurdle, WIF has a renewed claim to the “best crypto to buy” conversation.
Derivatives Traders Are Betting a Continuation
Open interest is showing signs of recovery, rising 20% since the month began, according to CoinGlass data—speculative interest is building with traders actively following WIF price moves.
Dogwifhat Open Interest. Source: CoinGlass.The Derivative traders appear to be positioning for a continuation, with a long/short ratio of 1.95 on Binance showing over 66% of traders are betting on price increases.
WIF Price Analysis: Is a 3x Coming?
Sentiment appears to align with technicals as the WIF price forms a classic continuation pattern—trading within the descending channel of a 5-month cup-and-handle formation.
WIF / USDT 1-day chart, cup and handle pattern. Source: TradingView, Binance.This represents a temporary breather within a wider uptrend—the 330% rally since the mid-April market bottom could just be the first leg.
The strong start to June followed a successful bounce from this channel’s support, setting the WIF price on course to retest upper resistance.
If current momentum holds, a breakout could occur by the weekend. Fully materialized, this bullish case sets a $2 price target, a 115% gain from current levels.
Momentum indicators support this view. The MACD is now en route to surpass the signal line in a golden cross, a bull signal which often hints at the start of a longer-lasting uptrend.
More so, the RSI has returned to bullish territory above the neutral line at 52—buyers currently control the WIF price trajectory.
For confirmation, traders should watch for a move above $1 to invalidate today’s cooldown, with $1.10 as the breakout threshold heading into the weekend.
While this momentum could advance to the next Fibonacci levels at 2.60—a 3x—this is more likely as a long-term target without any significant technical backing.
How to Get Better Entries on Tokens Like WIF
The WIF price resurgence underpins the fact that risk-on sentiment is finally leaking into more speculative coins. The meme coin market is ready to enter another explosive phase.
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The post WIF Price Prediction: Could This Dog Coin 3x Before the Weekend? appeared first on Cryptonews.
