Dogwifhat (WIF) Jumps 23% as Uptrend Strengthens With Higher High in Sight

Key Takeaways

• Macro correction ended in a strong support zone.
• Wave v targeting $0.85 to $1.08 is underway.
• $0.60 is key support for continuation setup.

Dogwifhat (WIF) has emerged from a lengthy corrective phase, completing a WXYXZ pattern at a key demand zone.

The bullish wave structure is formed on lower timeframes, and resistance trendlines are being tested.

This setup indicates continuing a larger impulsive move, provided key resistances are breached.

WIF Price Analysis

The 4-hour chart reveals a completed five-wave impulse from last year’s low to the all-time high near $4.78, followed by a prolonged corrective WXYXZ pattern.

The final leg of the correction, wave Z, bottomed at $0.30 in early April within the critical demand, which had previously acted as a base for impulsive rallies.

Since then, WIF has carved out a potential bottoming structure, consolidating above $0.60 and establishing higher lows.

The Relative Strength Index (RSI) broke out of the oversold range and trended upward, confirming strengthening momentum.

A breakout from the falling wedge structure has occurred, indicating a shift in trend bias.

WIF now trades at approximately $0.64, with more upside potential ahead.

If WIF can hold above $0.60, it would signal sustained buyer interest and potential resumption of the macro uptrend.

Failure to hold $0.524 would invalidate this structure, opening the door to revisiting the $0.30–$0.25 support.

However, given the macro completion of the corrective pattern, the odds favor bullish continuation in the near term.

WIF Price Prediction

On the 1-hour chart, WIF is accelerating from wave 4 support and has likely entered the early stages of wave 5 of a larger impulse.

Wave 3 peaked around $0.71, and the following correction (wave 4) bottomed near $0.52, respecting the rules of the Elliott Wave Theory.

The ongoing breakout suggests wave 5 is now underway, with Fibonacci projections from the wave 3–4 swing giving us three primary targets:

• 0.80 (0.786 extension) — expected minor resistance
• 0.87 (1 Fib) — likely reaction zone
• 1.08 (1.618 Fib) — extended wave 5 target

This structure assumes a clean five-wave advance, and the volume breakout confirms bullish intent.

Since its wave 4 low, we have seen a 23% rise. Although the hourly RSI is overbought, there are no signs of momentum slowing down.

If this count holds, the current rally could take WIF toward $0.85–$1.08 in the coming days.

A potential short-term pullback could occur once wave 5 enters the $0.85- $0.90 zone. A higher low above $0.60 would confirm structural integrity and open the door to new highs.

If divergence appears, it may signal a correction. However, the broader structure remains bullish while price holds above $0.524.

Key Levels to Watch

• Immediate Support: $0.605 (wave 4 low).
• Structural Support: $0.524 (breakdown invalidation).
• Minor Resistance: $0.738 (wave 3 high).
• Wave 5 Targets: $0.871, $0.965, $1.08.
• Macro Resistance: $2.18 (if breakout sustains).