Market Direction

Dogwifhat (WIF) price prediction today: Will WIF hold $1.37 or break $1.96?

Published: Sep 16, 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. How to buy WIF:

Technical Analysis

WIF is still in it's longer-term downtrend, and now price is squeezing against the local downtrend line.
Price is currently struggling to get back in to the local uptrend having found the underside of it as resistance a number of times now.
The horizontal level of $1.60 is also acting as a resistance that WIF is struggling comfortably reclaim.
Beyond $1.60, the local overhead horizontal resistance is at $1.96 and then $2.23.
To the downside, we expect $1.37 to be a local support, but the strongest supports are between $1.00 and $1.20.

Dogwifhat daily price chart shows resistance at $1.96, support at $1.48, and RSI near 44, indicating consolidation.

Cryptonary's take

Overall, WIF just seems to have lost it's momentum with traders focusing on other plays rather than trading WIF. However, we have seen volumes pick up in recent days which could be a sign that some activity is coming back in to WIF. If Powell delivers a dovish Press Conference on Wednesday (we think he will), then this might be the fuel that WIF needs to see a larger move to the upside. However, in the immediate term, we're not expecting major upside, and therefore we expect $1.96 to be a sticking point for WIF.

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.

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.