Dogwifhat (WIF) in Danger Zone: Price Plunges Below Critical Support Level

Memecoin''s foundations crack as WIF tumbles past make-or-break threshold.

Blood in the water for Dogwifhat holders

The Solana-based joke token—which somehow became a ''serious investment''—just triggered alarm bells across crypto Twitter. WIF''s 24-hour chart looks like a skydiver without a parachute, slicing through what traders considered the last line of defense.

When memes meet margin calls

No fancy Fibonacci levels or Ichimoku clouds needed here. The support zone was obvious, the breakdown brutal. Now the question becomes whether this is another ''buy the dip'' opportunity or the start of a race to the exits—because as any degens knows, nothing drops faster than a memecoin losing its hype.

Just remember: in crypto, ''fundamentals'' is what we call the reason prices go up after they''ve already rallied.

Key technical points

• Swing Failure at Range High: WIF rejected from the value area high, signaling a failed breakout and possible trend exhaustion.
• POC Reclaimed by Bears: Price has dropped below the highest volume node of the range, now acting as resistance.
• Targets Below at $1.87 and $1.67: These levels align with previous swing lows, resting liquidity, and high-timeframe support zones.

WIF’s short-term momentum has turned bearish after rejecting from a strong resistance confluence NEAR the top of its trading range. This zone included the POC, weekly support/resistance flip, and the 0.618 Fibonacci retracement, a powerful cluster that has now become overhead pressure.

The breakdown places WIF in a vulnerable technical position. Unless bulls can swiftly reclaim these levels, a deeper correction toward $1.87 becomes increasingly likely. This target aligns with a previous swing low and sits just above a demand zone. Below that, the $1.67 to $1.50 region offers structural support, including the value area low and an untested order block, which could act as the next major bounce zone.

Such a pullback WOULD not necessarily invalidate the broader bullish trend. Instead, it may establish a higher low on the macro chart, clear resting liquidity, and allow the market to build a stronger foundation for future upside.

Another key observation is the lack of significant buy-side volume on the most recent leg higher. This divergence between price and volume often precedes local tops or trend reversals, particularly when paired with clear resistance rejection. Until stronger volume returns to support bullish continuation, the current move remains vulnerable to a further correction.

What to expect in the coming price action

If WIF fails to reclaim the POC and surrounding resistance cluster, expect a move toward $1.87 and potentially deeper into the $1.67–$1.50 demand zone. These levels could offer a setup for bullish reversal and establish the foundation for the next major leg higher.