Market Direction

Dogwifhat (WIF) price prediction today: Will WIF hit $2.20 soon?

Published: Sep 24, 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'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.

Nice move from WIF overall to break out from the local downtrend line (red dotted line), reclaim above $1.60, and then begin the push higher to the local horizontal resistance of $1.96.
$1.96 local resistance also converges with the underside of the local uptrend line (yellow dotted line). This area may, therefore, prove to be a short-term resistance area.
Beyond $1.96, the main overhead horizontal resistance is at $2.20. If the price can comfortably break above this level, then there's little resistance (bar the main downtrend line) until $3.05.
To the downside, we expect $1.60 to hold as support if the price pulls back as far as that.
The RSI is pushing up towards overbought territory, but it's possible there's further upside to be had here in the short-term.
What's also positive is that volumes have increased significantly. A significant move higher in price, backed by good volume, is a sign that the move higher is potentially more sustainable.

Chart of dogwifhat (WIF) showing price movements with resistance at $1.96 and support at $1.61, indicating potential breakout.

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.

Cryptonary's take

A really positive move higher for price, which we felt was expected considering other SOL Meme's had been moving but WIF lagged. We've now seen it catch up somewhat. In the short-term, it's possible that $1.96 acts as a resistance, but we think in the coming week or two, WIF can retest $2.20, which will be the key testing area for the price.

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.

Contract address: EKpQGSJtjMFqKZ9KQanSqYXRcF8fBopzLHYxdM65zcjm