Market Direction

Dogwifhat (WIF) price prediction today: Is $2.23 breakout coming?

Updated: Aug 27, 2024

Published: Aug 26, 2024

For now, we'll continue to play and monitor the range. The bull reversal occurs upon a breakout above $2.20.

WIF bumped into the underside of the $1.60 horizontal resistance a few times; however, we got a convincing break out above $1.60 last Friday.
Price is now locally creating a bull flag. These have a bias to break out to the upside.
To the upside, the resistances are the local downtrend line (red dotted line) and the horizontal resistance of $2.23.
A break out above $2.23 would be the first sign of a bullish reversal. The main level will be if/when price breaks out above $3.05 and $3.40 (that range/zone).
To the downside, we'd expect $1.60 to act as support. If that level is lost, we'd have to reconsider our current bullish bias on WIF.

Dogwifhat (WIF) price chart showing technical analysis with key support and resistance levels and RSI indicator on a dark background

Cryptonary's take

WIF is at a local resistance here, although we do expect it to continue breaking out and retesting the main resistance at $2.20 sometime this week, possibly towards the end of the week. We would also expect the $1.70s to hold up as support in the immediate term.

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.

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’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.