Dogwifhat (WIF) Price Pulls Back After Wedge Breakout

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Key Takeaways:

WIF broke out of a descending wedge in June and entered an ascending channel in July.
A trendline retest near $1.20 confirmed bullish structure, but price now faces short-term volatility.
Intraday data shows high sell pressure and a 3.99% daily price drop, despite active trading volume.

Dogwifhat (WIF), one of the more talked-about meme coins in 2025, has moved through several distinct technical phases this year—culminating in a wedge breakout and potential bullish continuation. However, recent market behavior has raised concerns about short-term price stability despite a strong structural base.

From Downtrend to Accumulation: A Quiet First Quarter

WIF’s journey began with a prolonged downtrend stretching from January to March 2025. The decline gave way to a phase of sideways consolidation through late April, forming what many technical analysts label an “accumulation zone.” During this period, the price remained stable within a narrow band, laying the groundwork for a breakout.

Wedge Breakout Ignites Bullish Momentum

In early May, WIF broke above its consolidation range, signaling renewed buyer interest. This move initiated a sharp upward trend, followed by the formation of a descending wedge throughout June. The wedge—a bullish reversal pattern—was characterized by lower highs and lows within converging trendlines.

By late June, WIF exited the wedge decisively, reclaiming upward momentum. July saw the token trading within an ascending channel, with consistent higher highs and higher lows. A significant technical development occurred mid-July, when WIF retested a previously broken descending trendline near $1.20, confirming it as new support. A price target of $2.00–$2.20 remains visible on bullish charts if momentum persists.

Market Snapshot: Short-Term Volatility Persists

As of the time of writing, Dogwifhat (WIF) is trading at $1.04, down 3.99% over the last 24 hours. The token briefly touched a high of $1.088 before reversing course. Intraday action has shown repeated rejections above $1.07, highlighting seller dominance in the current range.

According to CoinMarketCap, 24-hour trading volume stands at $542.62 million, down 29.15% from the previous day, with a market cap of $1.04 billion. The volume-to-market-cap ratio of 51.99% reflects high intraday trading activity despite the decline.

Also Read: dogwifhat (WIF) Eyes Rally While DOGE Cools Off

Chart data shows volatility, with notable price swings during both U.S. and Asian sessions. The presence of back-to-back red candles further confirms consistent sell pressure. While price dipped below $1.00 earlier, it has since rebounded—though weakly—to $1.04.

Despite short-term price pressure, Dogwifhat’s technical structure remains largely bullish. The breakout from the wedge and the successful retest of prior resistance turned support are critical markers for potential future gains. However, the token must reclaim and hold above $1.07 for upward momentum to resume confidently.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses