Market Direction

Dogwifhat (WIF) price prediction today: Can WIF surge past $1.96 resistance?

Published: Sep 20, 2024

What is Dogwifhat: Dogwifhat (WIF) has emerged as the leading meme token of this cycle within the dog category. Inspired by the viral "dog wif a hat" meme, this playful token captures the essence of internet culture while riding the wave of Solana's growing popularity. At Cryptonary, we're particularly bullish on Solana this cycle, and WIF aligns perfectly with this Meme supercycle sentiment along with being on the Solana Chain, making it a significant asset in our portfolio.

WIF has broken above the horizontal level of $1.60, which was acting as a resistance for price.
However, the price has now found new resistance at the underside of the local uptrend line (yellow line) and also the local horizontal resistance of $1.96.
What's positive to see is an increase in volume and a breakout to the upside of the range rather than the downside.
For the price to really clear higher, the price needs to reclaim the $1.96 level, and then ideally $2.20, as we see that as the last key local level before WIF can make a much larger move higher, potentially then progressing up to $3.05.
On the downside, it's pivotal that the $1.50 to $1.60 area is held as a support zone.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

7. WIF price analysis chart showing support and resistance levels, volume, and RSI trends, outlining potential price movements.

Cryptonary's take

In the short-term, we think the rally for WIF might have stalled around here. But, we're hoping that WIF can now hold itself above $1.60, establish itself in a new and higher range, which can then setup a major breakout in the weeks to come. In the immediate term, the level to reclaim is the $1.96 area. Above $2.20 and we should see more explosive price action to the upside. Those are the key levels to watch for now.

WIF’s ATH is $4.85. We hold WIF at an average price of $0.03 because we believe in its potential as the dominant meme token in the dog category this cycle.

How to buy WIF:

Via Phantom Wallet:
1. Deposit Solana tokens by copying your Phantom wallet address and transferring funds.
2. Swap tokens within the wallet by selecting WIF, setting slippage tolerance, and confirming the swap.
Via Centralized Exchange (CEX):
1. Choose a CEX that lists WIF like Binance, OKX, or ByBit.
2. Create and verify your account.
3. Deposit funds.
4. Go to the WIF trading section and purchase WIF.