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Key Takeaways:
- Dogwifhat dropped 1.28% to $0.89 but saw rising trading volume.
- $0.87 acts as a key support—breach may lead to $0.57.
- Rounded bottom pattern and buyer interest suggest short-term rebound possible.
Dogwifhat (WIF) faced slight downward pressure on August 2, 2025, with its price dipping 1.28% to $0.8901, despite a notable uptick in trading volume. The meme coin’s 24-hour trading activity rose 0.43% to $309 million, signaling continued interest amid market uncertainty.
Support at $0.87 Marks Critical Zone for WIF
Analyst Ali Martinez flagged $0.87 as a crucial support level for Dogwifhat. If WIF breaks below this, it risks a sharp decline toward $0.57. Conversely, holding above this threshold could renew bullish momentum. The coin’s intraday price action—falling from $0.9064 to a low of $0.857 before rebounding—reflects market indecision and strong reaction to key technical zones.
dogwifhat $WIF must hold above $0.87 to maintain its bullish structure. Losing this level could trigger a drop to $0.57! pic.twitter.com/x78ZTfTT6O
— Ali (@ali_charts) August 2, 2025
Investor sentiment appears divided, but many are closely watching WIF’s behavior around $0.87. A successful defense of this zone could set the stage for a short-term rebound.
Technical Patterns Hint at a Potential Recovery
Chart analysts observe rounded bottom patterns forming on the 15-minute and 1-hour charts. These formations often signal early reversal signs, suggesting that buying interest is gradually returning. Despite no strong breakout pattern emerging yet, the technical landscape hints at potential upward pressure if momentum builds.
WIF now faces immediate resistance levels at $1.05, $1.13, and $1.20. On the downside, holding above $0.97 and $0.90 is key. A breach below $0.90 would likely trigger caution among bulls.
Also Read: Dogwifhat (WIF) Price Pulls Back After Wedge Breakout and $1.20 Support Retest
Traders Cautiously Optimistic Amid Volatility
For short-term traders, analysts recommend long positions above $1.00 with stop-loss orders under $0.97 to mitigate downside risk. While volatility remains elevated, signs of accumulation are emerging. However, losing support zones could quickly shift sentiment bearish.
Dogwifhat (WIF) remains in a delicate technical position. With support at $0.87 holding so far and trading activity climbing, the meme coin may yet see renewed upside—provided it avoids a sharp breakdown. For now, all eyes remain on the critical support zones as WIF navigates this uncertain trading range.
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
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
