The meme-inspired token Dogwifhat is showing signs of a potential rally, with technical signals pointing toward a sharp breakout.
Traders are closely watching the $0.48 support level as a foundation for future moves. A new chart suggests the token could be setting up for one of its biggest runs yet.
Chart Shows Path From Support to Multi-Dollar Levels
In a recent X post, @Raizelxbt outlined a bold price projection for the $WIF price, mapping its path from a key support zone at $0.48 to a potential peak above $2.50. At the time of writing, the coin is trading around $0.78, consolidating after weeks of volatility. This support zone is being highlighted as the critical base that could anchor any future upward surge.
Source: X
The analysis shows an accumulation phase forming near the lower range before any breakout attempt. Price action is expected to consolidate, bouncing within the channel, before gaining momentum toward the higher targets. If momentum builds as projected, the rally could represent a gain of more than 425% from the lower boundary.
Resistance levels remain a key factor in this outlook, with $1.23 and $1.91 flagged as checkpoints on the way to the $2.54 target. Analysts caution that defending the $0.48 zone will be vital to maintain this bullish setup. As it stands, the chart paints a scenario where the asset could shift from consolidation into a parabolic phase if buying pressure continues.
Whale Activity and Market Stability in Focus
On one hand, Dogwifhat is currently trading at $0.78, down 4.23% in the past 24 hours, according to BraveNewCoin data. The meme coin still holds a solid $783 million market cap, backed by over $135 million in trading volume, showing strong liquidity despite short-term pressure.
Source: BraveNewCoin.
The intraday chart highlights a dip below $0.77 before a rebound toward $0.80, reflecting possible whale activity driving these swings. Large holders appear to be testing support levels, with the $0.75–$0.77 zone emerging as a critical area that could define the next trend.
With nearly 999 million tokens in circulation, momentum above support remains vital for bullish continuation. Analysts suggest that if whales defend these levels, the asset could maintain its setup for a larger rally, with eyes set on the $2.50 target outlined in technical forecasts.
Bollinger Bands and RSI Paint Neutral Outlook
On the other hand, the latest TradingView chart shows the coin trading near $0.81, positioned between the lower Bollinger Band at $0.74 and the upper band at $0.92. This range highlights consolidation, with the middle band near $0.83 acting as a pivot point. The tightening of the bands suggests reduced volatility, often a precursor to a larger price move.
Source: TradingView
The Relative Strength Index (RSI) sits at 45.73, slightly below the neutral 50 mark, showing mild bearish pressure but no oversold signal. This reading indicates a balanced market where neither buyers nor sellers dominate. A push above the 50 level could shift momentum in favor of the bulls. Until then, traders remain cautious as signals lean sideways.
Dogwifhat has struggled to break above the $0.90 resistance over recent weeks, though the strong defense of the $0.74 support has kept the structure intact. If the price closes above $0.83, momentum could drive another test of the $0.92 zone. On the downside, failure to hold support risks retesting $0.65 or even the year’s low of $0.30.
