Dogwifhat Soars 10%, Smashes $1B Market Cap—Is This Just the Beginning?

Meme coin mania strikes again as dogwifhat (WIF) defies gravity with a 10% surge—now commanding a $1 billion market cap. Traders are left wondering: Can the hype outlast the skeptics?

Breaking the billion-dollar barrier isn't just a milestone—it's a flashing neon sign for crypto degens. The Solana-based token's rally comes as Bitcoin struggles to hold $60K, proving once again that irony is the only constant in crypto markets.

While 'fundamentals' remain as solid as a Twitter thread, technicals suggest the pump could have legs. Just don't ask your traditional finance friends about valuation metrics—they'll need another martini after seeing a dog-themed token with nine zeroes.

Key Takeaways

dogwifhat jumps 10% after breaking key resistance and the 200 EMA. Derivatives activity and bullish momentum hint at a 30% rally. 

dogwifhat [WIF], the solana [SOL]-based memecoin, drew strong attention after a 10% daily surge pushed its price to $1.05.

The move came amid broader market Optimism and a breakout above key resistance levels, raising the question — How far can this rally go?

WIF’s price momentum and surge in trading volume

WIF’s market cap climbed to $1.05 billion, while its 24-hour trading volume soared 83.89% to nearly $588 million, per CoinMarketCap.

This uptick in activity reflected rising investor interest as the token broke out from a multi-week consolidation.

Naturally, derivatives traders jumped in.

CoinGlass revealed that WIF’s Open Interest — over the past 24 hours — surged by 8.42%, totaling $476 million. 

Source: CoinGlass

Meanwhile, at press time, WIF’s Long/Short Ratio stood at 1.014, indicating strong bullish sentiment among traders. This value suggests a slight bullish bias, as buys slightly outnumber sells.

Liquidation levels tilt bullish

Traders appeared highly active NEAR $0.973 and $1.09, with CoinGlass data showing $18.17 million in Cumulative Long Liquidations at these levels.

By contrast, shorts totaled just $2.64 million, suggesting bulls were pressing their advantage while bears stayed cautious.

Source: CoinGlass

dogwifhat breakout confirms uptrend

AMBCrypto’s analysis showed the token had broken out of a descending trendline and retested it as support.

Price action also confirmed a strong daily close above the 200-day Exponential Moving Average (EMA) at $1.03.

Source: TradingView

This MOVE carried weight—historically, such breakouts with EMA confirmation often lead to explosive upside.

The chart projected a potential 30% jump from current levels, placing the next resistance zone near $1.40.

The Relative Strength Index (RSI) hovered at 62, comfortably below the overbought threshold. That reading suggested WIF had more room to run before traders begin locking in profits.

All signs—volume, Open Interest, liquidations, and technicals—now point to a strong continuation setup.

Whether WIF hits the projected $1.40 mark hinges on holding above its EMA support and avoiding profit-taking dips.