Dogwifhat ($WIF), One of Solana's Favorite Meme Coins, Is Indicating Strong Signals Towards a Bullish Breakout

Dogwifhat ($WIF), one of Solana's favorite meme coins, is indicating strong signals towards a bullish breakout. Current chart activity suggests that WIF is about to take off

Dogwifhat (CRYPTO: WIF), one of Solana's most-loved meme coins, is showing promising technical signals that may indicate an impending bullish breakout.

What Happened: Dogwifhat, a popular meme coin on the Solana blockchain, is known for its playful nature and strong community.

Recently, WIF has been displaying interesting chart activity that has traders eagerly awaiting the coin's next move. Despite facing recent losses, WIF remains one of Solana's top meme coins, with a market capitalization of $938 million.

It previously hit an all-time high of $4.85 in early 2024 before encountering a period of correction.

As the meme coin space experiences a surge in early 2025, with coins like WIF rallying due to heightened interest from traders and investors, the crypto market is buzzing with anticipation.

WIF’s Price Action:

As technical indicators highlight a mostly bullish view of WIF, oscillators register an even split between buy and neutral signals.

Relative Strength Index (RSI): At 60.94, the RSI suggests a neutral outlook on WIF's price trends.

Moving Average Convergence Divergence (MACD): MACD is currently indicating a buy signal, suggesting that the bullish momentum is increasing.

Average Directional Index (ADX): ADX registers an optimistic view of the coin's price trends.

WIF is currently forming a cup and handle pattern, which is a classic bullish signal in technical analysis. This pattern, which is usually spotted on the fourth time-frame, suggests that if WIF breaks past key resistance levels, its price could climb towards $2 or even $3.

A breakout from the cup and handle pattern would likely attract more buyers and boost momentum, setting the stage for a potential rally to higher price targets.

Moreover, recent activity from a cryptocurrency whale highlights the strong market demand for WIF. The whale was recently spotted making a massive purchase of 1,483,400 WIF tokens for a staggering sum of $1,491,626.

This significant accumulation is a clear indicator of the large-scale interest in WIF and could be a catalyst for further upward price moves as the whale’s actions are likely to attract attention within the broader crypto community.

WIF’s Key Levels To Watch:

The price of WIF finds support at the $0.80-$0.82 level, which is crucial for avoiding further declines.

To sustain the bullish momentum and pave the way for higher price targets, the bulls will need to maintain the price above this support zone.

On the other hand, the price is encountering strong resistance in the $1.32 area. A decisive move above this resistance is recognized as an important factor that could trigger a possible rally to higher prices.

If the bulls succeed in breaking through the resistance at $1.32, it could open the door for a potential rally towards the next resistance levels at $1.85, $2.70, and $4.03. These price targets are significant as they present opportunities for substantial gains for those who hold WIF.

Chart: Benzinga Pro

Bitcoin Pepe (BPEP) :

As excitement builds around Dogwifhat’s potential breakout, it’s clear the meme coin market is heating up again—creating the perfect backdrop for new projects to capture attention and momentum.

But as investors search for the next high-potential opportunity, Bitcoin Pepe (BPEP) provides early access to a meme coin designed for this trend.

Bitcoin Pepe combines Bitcoin’s security with Solana’s speed by launching a layer 2 solution that provides instant, inexpensive transactions. It aims to mobilize $2 trillion of dormant Bitcoin capital into memes, appealing to trust and speed-focused Bitcoin maximalists.

The project has more than 10 partnerships, which include: BETV for NFT content creation; CATAMOTO for fair launch services; GETE for cross-chain games; and Crypto Hunters for AR and AI experiences. Plena Finance provides support to its dApps and smart contracts, establishing a meme-centric decentralized exchange and NFT market.

BPEP’s staking rewards have also sold out due to the high level of interest in the presale. The presale is rapidly approaching its conclusion on May 31.