Dogwifhat (WIF) Traders Eye 9% Surge—But Here’s What Could Derail the Rally

Meme coin mania refuses to die. WIF, the Solana-based token with a Shiba Inu mascot wearing a pink hat, flashes bullish signals—analysts predict a near-term 9% pump. Yet seasoned traders know: when crypto grins, it’s often hiding teeth.

Technical setups suggest upside, but liquidity craters and whale wallets lurk. A 9% gain sounds juicy until you remember most retail traders lose money chasing pumps. The real play? Watching for those exit scams disguised as ’community-driven projects.’

Proceed with caution—and maybe a sell limit.

dogwifhat bulls assail the $1.18 resistance once again

Source: WIF/USDT on TradingView

The short-term range formation (white) extended from $0.93 to $1.21, with the mid-range level at $1.07. At press time, the price had stalled just under the range highs for a couple of days.

This resistance level at $1.18 marked the lower high set in late January, when WIF was on a strong downtrend. Therefore, the level seemed to be an important long-term horizontal level. Combined with the range formation, it seemed likely that a move past $1.18-$1.21 and a retest as support WOULD offer a good buying opportunity.

That buying opportunity is not here yet though. The OBV has trended higher over the past ten days, but seemed unable to breach the high from ten days ago. While the trading volume did climb slightly over the last 24 hours, it did not forecast a breakout at press time.

Source: Coinglass

The liquidation heatmap revealed that WIF may be likely to brush the range highs soon. There seemed to be a buildup of liquidity around the $1.2-$1.26 area. Since liquidity attracts price, and the magnetic zone was close to the market price, it may be highly probable that WIF would be pulled towards $1.26.

If the memecoin does break out past $1.26, a retest of the former resistance as support could be the beginning of the next rally.

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