Dogwifhat (WIF) Nears $1 Breakout—Can Meme Coin Defy Gravity to Hit $2 by June?

Solana’s favorite underdog token faces a make-or-break moment as it tests stubborn resistance at the $1 psychological barrier. Traders eye a potential 2x surge if bullish momentum holds—but with 90% of meme coins crashing within 30 days of ATHs (ask the degens who bought Shiba at the top), WIF’s rally might just be another ’number go up’ illusion for the crypto casino.

Dogwifhat Price Forecast: WIF Sees Significant Selling Pressure at $1.325

WIF has gone up by 1.4% in the past 24 hours and trading volumes currently sit at $523 million, accounting for nearly half of the token’s circulating supply.

Looking at the hourly chart, we can see that the dogwifhat price topped at and was heavily sold once it got to $1.325. Since then, the price has been making a series of lower highs, indicating the beginning of a downtrend.

WIF has not decisively broken its bullish structure as it has been jumping up and down its second highest high at around $1.13. Hence, the latest price action could be categorized as a consolidation rather than a downtrend.

Meanwhile, the price action bounced off the $1 level during the Asian session today and may have pulled a bear trap. This is a bullish indication that could result in significant gains in the NEAR term for WIF.

Trading volumes were high as the price touched the 200-hour exponential moving average (EMA), making this the key support to watch down the road if the price pulls back again.

WIF has broken its trend line resistance but still needs to climb above $1.15 at least to confirm a bullish outlook. If it does, the price could retest its local high of $1.35 and could MOVE higher if it breaks out above it.

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