Dogwifhat (WIF) Price Eyes Breakout Above $1.30 – Could a 40% Rally Be Next?

The altcoin market is starting to heat up again as Bitcoin price pushes past its all-time high, and that's putting the spotlight back on

The altcoin market is heating up again as Bitcoin price pushes past its all-time high, and that’s putting the spotlight back on smaller-cap coins. One meme token that’s been making a strong move today is Dogwifhat (WIF). It’s up over 11%, trading around $1.15, and its volume has jumped by 142% in just the past day. Now, all eyes are on the $1.30 level, a key resistance point that could decide where WIF price goes next.

On X, top trader Crypto Sensei shared that WIF recently dipped to its daily EMA before bouncing back, just as expected. They also mentioned that with Bitcoin breaking new highs, altcoins like WIF are starting to look stronger on the charts, possibly setting up for a breakout above this key level.

#Dogwifhat touched its daily EMA and bounced as expected. As #Bitcoin is making new highs, we can see some altcoins are heating up and looking better on the charts. WIF is setting up for a breakout above $1.30. Thoughts?

As we discussed yesterday, the price of Dogwifhat (WIF) has been showing some interesting trends. It appears to be testing the $1.30 consolidation zone on the daily chart after a period of lower highs and lows. This structure usually supports a bearish bias, especially as the price action is slowing down with lower volume.

However, WIF has now shifted to forming higher highs and lows since April. The current price structure supports a bullish bias, especially as price action is accelerating with volume support.

On the daily chart, WIF price has moved above the $1.00 consolidation area and is testing the $1.30 resistance. This zone served as a breakdown point in late 2023 and early 2024. Traders are now watching whether the token can secure a daily close above that level to validate a breakout.

The chart shows support levels at $0.95–$1.00, which acted as the base for the most recent rally. A previous support zone around $0.70 remains valid if the price retraces sharply. On the upside, a clean break above $1.30 could open a path to the $1.50–$1.60 range, where the token previously peaked during late 2023.

The daily RSI is nearing 70, indicating strong momentum while approaching overbought conditions. This positioning suggests WIF price may either consolidate further or experience a minor pullback before any continuation.

Rising volume has been observed across multiple bullish candles on the chart. This signals growing market participation and supports the current price movement. If volume continues to rise as WIF price breaks through resistance, it could confirm bullish strength.

The earlier retest of the daily EMA line during consolidation, mentioned by Crypto Sensei, also fits typical continuation setups. As long as price holds above that zone, traders are likely to remain optimistic.

Dogwifhat is one of several altcoins drawing trader attention as liquidity spreads beyond Bitcoin. The next few trading sessions will likely determine whether WIF price can sustain its breakout attempt and push toward higher levels. The $1.30 mark remains the level to watch closely.

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