Amid Its Breakout, Solana Memecoin Dogwifhat (WIF) Eyes a Reclaim of $1.50 and a Continuation of Its Bullish Rally

Amid its breakout, Solana memecoin Dogwifhat (WIF) eyes a reclaim of $1.50 and a continuation of its bullish rally. Some analysts suggest that new highs are bound to come if the token holds above a crucial level.

Amid its breakout, Solana memecoin Dogwifhat (WIF) is now eyeing a reclaim of $1.50 and a continuation of its bullish rally. Some analysts suggest that new highs are bound to come if the token holds above a crucial level.

Dogwifhat Reclaims $1.00

Over the past month, dogwifhat has seen a massive 190% surge, climbing back to the $1.00 barrier. The memecoin has been in a downtrend since hitting its Q4 2024 high of $4.19 in November, retracing over 92% in five months.

After the TRUMP memecoin and LIBRA token controversial launches, the sector faced market exhaustion, with most memecoins struggling during the Q1 2025 retraces. As a result, WIF lost the $1.00 mark for the first time in a year.

Amid last month’s pullbacks, dogwifhat hit a 14-month low of $0.32 before the crypto market recovery started, but jumped to the $0.60 support at the end of April. Since then, WIF has soared over 70%, reclaiming the key $1.00 resistance on Monday.

This week, the memecoin has hovered between the $1.00-$1.20 price range after hitting a three-month high of $1.32 four days ago. Additionally, it retested the recently reclaimed level as support after bouncing from the $0.95 level on Thursday.

Market watcher Rose Premium shared a technical outlook for the cryptocurrency, noting a bullish structure after its recent performance. The trader explained that dogwifhat shows “a classic bullish structure after rebounding from the Fibo Zone,” between the $0.95-$0.98 range.

According to this, WIF’s trend continuation is likely if the memecoin holds the $1.00 level as support. This could propel the token toward an initial target of $1.15, before reclaiming the $1.26 level and finally reclaiming the $1.37 mark.

WIF Breakout Eyes $1.50

Trader Coinvo suggested that WIF’s “classic break and re-test pattern” is “guaranteed” to send the memecoin’s price in a parabolic rally. Similarly, analyst Carl Runefelt from The Moon Show affirmed that dogwifhat is “potentially ready to continue its rally to new highs.”

Per the chart, WIF has been in a symmetrical triangle pattern over the past week, with price breaking out of the upper boundary after surging above the $1.05 level. According to the formation, the cryptocurrency targets $1.50 if the breakout is confirmed.

This level has been a crucial horizontal level, serving as a key bounce area during the 2024 retraces, and could propel dogwifhat to higher targets if reclaimed.

The analyst stated that WIF could target the $1.49 resistance area if it holds its current levels and the entire market “goes for another leg up from here.”

As of this writing, dogwifhat trades at $0.14, a 1.8% increase in the daily timeframe.