Dogwifhat (WIF) Eyes $1.26—But Brace for a Dip First

Meme coin traders, take note: WIF’s chart is flashing a classic ’pullback before pump’ signal. Here’s why a brief retrace could set the stage for a 15% surge.

Technical setup: The 4-hour chart shows WIF testing key support at $1.10 after rejecting $1.20 twice this week. RSI cooling from overbought territory suggests room for one more shakeout.

Market psychology: Retail FOMO typically peaks after these minor dips—just ask any degen who bought the last ’final correction’ before a 30% green candle. (Bonus cynicism: Because nothing fuels crypto rallies like relieved bagholders breaking even.)

Key levels: A hold above $1.08 keeps the $1.26 target in play. Below that? Let’s just say the ’W’ in WIF might start standing for ’wrecked.’

WIF reaches a checkpoint that might cause a retracement

Source: WIF/USDT on TradingView

The daily chart showed a strong uptrend on the OBV that beat the levels made in the past three months. This was accompanied by a strong WIF breakout beyond the range high. It was a sign of intent from the buyers, and they were not yet done.

The downtrend from December had made many lower highs, with one of the more recent ones being the $1.18 level. This level was challenged, and at press time, a MOVE further higher was possible.

The RSI was at 82 to reflect overbought conditions, but no bearish divergence had formed on the daily chart.

Source: WIF/USDT on TradingView

The 4-hour chart shows a bearish divergence that formed, at the time of writing, when the price tested $1.18. This saw a minor dip to $1.07.

The RSI also reset to 66 at press time, meaning the momentum was strongly bullish, but there was room for upward expansion.

The OBV had also slowly ticked higher over the past three days. Together, the 4-hour timeframe’s clues showed that the price dip might have ended.

If WIF fell below $1.1 again, it might dip as far as the $0.94-$1 support zone.

Source: Coinglass

The 2-week liquidation heatmap showed that the $1.21 region was a magnetic zone that could pull dogwifhat higher.

Its proximity to the market price meant a move higher to $1.21-$1.26 was the more likely short-term outcome. A price dip could see WIF fall to $1.05, or as low as $1.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion