Dogwifhat (WIF) Eyes a Reclaim of $1.50

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) is 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.

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 timeframes as they faced rejection at the $0.80-$0.32 support levels.

This led to WIF losing the $1.00 mark for the first time in a year, as it dropped to lows of $0.32 after March time lows saw the memecoin reject the $0.79 support. However, the token bounced back at the $0.31 Fib level as the crypto market recovery started last month.

This saw WIF soar to hit the $0.60 support at the end of April, later surging over 70% to reclaim the key $1.00 resistance on Monday.

This week, the memecoin has been seen trading between the $1.00-$1.20 price ranges 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, suggesting that WIF’s trend continuation is likely if it 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.

If the memecoin manages to break above this level, it could continue its bull run to reach a final target of $1.50.

WIF’s Classic Pattern Eyes Parabolic Rally

Trader Coinvo suggested that WIF’s classic break and re-test pattern is guaranteed to send the memecoin’s price in a parabolic rally.

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 the trader, the memecoin broke out of the triangle pattern, but it faced resistance at the apex, leading to a retest of the breakout level.

This retest serves as confirmation of the breakout and increases the probability of a strong uptrend.

If the memecoin manages to close a candle above the apex level, it indicates that the bulls are in control and the trend is likely to continue.

If this happens, the trader suggests setting a limit order to enter a long position at the close of a candle above the apex, aiming for an initial target of the Fibonacci level at $1.15.

To manage the trade effectively, Coinvo recommends placing a stop-loss order at the recent swing low, which is around the $0.95 level.

Alternatively, if the memecoin faces strong selling pressure and breaks below the Fib level, it may be best to exit the trade and observe further price action.

The trader also noted that the memecoin is approaching the 0.382 Fib level, which could act as a resistance level.

If the bulls manage to push through this level, the next target is the 0.5 Fib level at around $1.26, followed by the 0.618 Fib level at $1.37.

Finally, if the memecoin manages to break above the 0.618 Fib level and close a candle above it, it could continue its bull run to reach the final target of the 0.786 Fib level at $1.50.

The Moon Show’s Analyst Predicts New Highs

Similarly, analyst Carl Runefelt from The Moon Show affirmed that dogwifhat is potentially ready to continue its rally to new highs.

This comes as the memecoin faced rejection at the $1.03 level, continuing to trade at the $1.00 support.

According to the analyst, the cryptocurrency broke out of a symmetrical triangle formation in the four-hour time frame.

The formation saw the token bouncing off the triangle's lower boundary twice before breaking out of the upper boundary as it surged above the $1.05 level.

This breakout is setting up the cryptocurrency to continue rallying toward the $1.50 level if the move is confirmed.