After a steep 92% drop from its all-time high of $4.19 in November 2024, dogwifhat (WIF) is making a strong recovery. The memecoin has bounced back with a massive 190% rally in the past month, reclaiming the key $1.00 level. This surge came after WIF hit a 14-month low of $0.32 during April’s market correction, sparking fresh interest and bullish WIF price prediction.
What Triggered the Comeback?
The memecoin sector faced exhaustion earlier this year following the controversial launches of TRUMP and LIBRA tokens. Many coins, including WIF, struggled during Q1 2025 and lost key support levels. However, WIF found its footing at $0.60 in late April, gaining momentum that has continued into May.
Traders now see a clear bullish structure forming, with WIF holding above crucial Fibonacci support between $0.95 and $0.98. Market analyst Rose Premium noted this structure supports a trend continuation, with WIF aiming for higher levels.
Key Resistance Levels to Watch
WIF recently hit a three-month high of $1.32 and has since moved between $1.00 and $1.20. Analysts now expect:
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A potential breakout toward $1.15 and $1.26
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A further push to $1.37, and possibly $1.50 if momentum continues
Analysts Coinvo and Carl Runefelt both pointed out a bullish breakout pattern, suggesting that a parabolic move may follow if WIF holds above $1.00.
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Buyer Demand Continues Rising
Spot market data shows strong buyer activity, with a positive net delta of 6.18 million WIF tokens. Futures traders are also bullish, with 68% holding long positions.
However, data from CoinGlass shows higher exchange inflows, signaling possible short-term sell pressure.
Still, with strong support, rising demand, and positive sentiment, WIF could be gearing up for a rally toward $1.50 and beyond.
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