- WIF trades at $0.8369 with a 26.83% weekly gain, signaling strong short-term momentum.
- Bull flag formation on the daily chart points to a potential breakout continuation move.
- Target levels are set at $1,630, $2,110, and $2,690 based on pattern projection analysis.
- Market optimism and rising volume may help drive further gains, but risks remain elevated.
The value of the Solana-based meme token dogwifhat (WIF) is displaying bullish strength after consolidating above the $0.83 level. Analysts have identified a typical bull flag setup on the daily timeframe, commonly interpreted as a continuation signal on an upward trend.
The ongoing structure of the pattern displays a strong initial movement and then a managed downward-sloping consolidation channel. This stage usually marks a temporary hold before a probable breakout resumes the previous trend.
With a market capitalization standing at $836.02 million and a 24-hour trading volume near $240.14 million, WIF is attracting growing attention among retail traders.
The weekly performance shows a significant 26.83% gain, underlining strong momentum and sentiment building around a possible breakout from this technical setup.
Source: CoinMarketCap Also Read: WIF Shows Strong Recovery Will the Next Target Hit $4.043?
The chart under assessment presents three possible take-profit (TP) targets for bulls seeking upward movement. These targets lie at $1.630, $2.110, and $2.690 through standard technical methods that approximate the height of the flagpole and project its extension from breakout.
Source: X These targets are indicative of successive stages of upward growth if the bullish scenario reaches its full potential. The day chart displays that the range of consolidation has narrowed and is indicating a potential breakout on a short-term basis.
Comments are indicative of the breakout trigger being located on the right above spot levels and once confirmed through trading volume, the trend can shift towards a quicker phase.
Even with the bullish pattern, traders are cautioned to observe false breakouts or volume divergence before entering positions.
As overall market sentiment for cryptos improves during 2025, meme-based cryptos such as tokens have gained renewed favor.
The total market cap recovery to $3.4 trillion has lifted speculative coins alongside large caps, reinforcing the possibility of wider participation.
Nonetheless, WIF is still a high-volatility asset and while indicators are bullish on a technical level, surprise reversals during meme coin rallies are not unusual.
Paying attention to volume patterns and adhering strictly to stop-loss levels are paramount when approaching resistance levels and long-term profit targets.
Also Read: Dogwifhat (WIF) Forms Bullish Pattern Analysts Target $1.40 Next
