Dogwifhat (WIF) Ignites Memecoin Revival With 35% Price Increase

Key Takeaways

• Dogwifhat (WIF) trades inside a descending wedge pattern.
• The WIF price reclaimed the $0.77 horizontal resistance area.
• Can WIF break out from the wedge and confirm the correction is over?

Like other meme coins, Dogwifhat (WIF) has fallen significantly in 2025. While the price rallied in April, it started another correction in May, seemingly resuming its long-term decline.

However, the WIF price bounced yesterday and has rallied today, aiming for a breakout from its corrective pattern.

Let’s examine a few charts and see if the breakout will happen and, if so, where it will lead.

WIF Price Analysis

The daily time frame WIF coin analysis shows that the price bounced on June 22 (green icon), validating the support trend line of a descending wedge.

It created a bullish candlestick the next day, reclaiming the $0.78 horizontal resistance area.

The deviation (black circle) below this level is a bullish sign, especially combined with the bullish descending wedge.

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If the Dogwifhat price breaks out, the primary resistance will be near $1.20, created by the May highs.

A breakout above this level could make the rally parabolic since there is no resistance.

Technical indicators are gradually bullish but have not yet confirmed the upward movement.

The Relative Strength Index (RSI) broke out from its bearish divergence trend line and is above 50.

The Moving Average Convergence/Divergence (MACD) has made a bullish cross (black circle).

So, the daily time frame gives a bullish WIF price prediction, suggesting a breakout is likely, taking the WIF price to at least $1.20.

Is the WIF Correction Over?

Like the price action, the wave count suggests the WIF correction is over, and new highs are likely.

The wave count shows a completed five-wave upward movement starting in April, followed by an A-B-C correction.

Waves A and C had a 1:1.61 ratio, and the correction ended at the 0.618 Fibonacci retracement support level, both textbook signs of a correction.

The wedge formation makes the count even more likely since wave C created an ending diagonal.

If the count is accurate, the Dogwifhat price has started the next portion of its upward movement.

While it is still unclear if this is part of wave C or three, both can lead to significantly higher highs.

If the Dogwifhat increase is wave C, the price target is $1.67. New highs are possible if the rally is a long-term wave three.

Incoming WIF Price Increase

The WIF price has fallen since May 23 but regained its footing with a strong bounce on June 22.

The price action and wave count suggest the correction is over and the price has started a new upward movement.

A Dogwifhat price breakout from the descending wedge will confirm this scenario, leading to a high of at least $1.67.