Dogwifhat Buyers Return as Price Rebounds from Three-Week High

- Advertisement -

• Buy volume exceeded sell volume for two consecutive days, signaling a clear shift from seller dominance to buyer control.
• Open interest jumped 25.51% to $441M and funding rates turned positive, showing strong futures trader confidence in gains.

dogwifhat (WIF) rose 18.56% to reach $0.9558 on Thursday. This price level marked its highest point in three weeks. By publication time, WIF settled near $0.94. The increase followed measurable accumulation by buyers.

Purchasers acquired over 72 million WIF tokens within 48 hours. Trading platform Coinalyze recorded this activity. Data shows buy volume surpassed sell volume for two consecutive days.

Thursday saw $9.44 million in buys against $8.88 million in sells. Wednesday recorded $63 million in buys versus $61 million in sells. This shift indicates renewed demand after a period of seller control.

Derivatives traders mirrored spot market interest. Open interest – reflecting active futures contracts – climbed 25.51% to $441.49 million. Trading volume for WIF futures jumped 88.9% to $2.3 billion. A positive funding rate confirmed most leveraged positions anticipated further price gains.

Holders moved tokens onto exchanges, indicated by positive netflows. WIF recorded net inflows of $2.52 million by Thursday afternoon. This activity suggests some investors secured gains near the local price peak despite ongoing buying pressure.

dogwifhat (WIF) is trading at $0.892 USDT, reflecting a mild −1.87% intraday correction after a notable +12.08% weekly surge. The monthly performance stands at −6.01%, while WIF remains deeply negative year-to-date (−52.15%) and −59.61% over the last 12 months, indicating that the token is still in a macro downtrend despite recent speculative recoveries.

Technically, WIF is attempting to break out from a descending channel that has held price action in check since its March 2025 high. Currently, the token is consolidating between $0.87–$0.95, forming what appears to be a bullish falling wedge, a classic reversal setup.

A confirmed breakout above $0.95–$0.98 with volume could trigger an impulsive move toward $1.12, followed by $1.30–$1.50 if bullish sentiment accelerates. Support remains near $0.85, and any break below that risks retesting the lows around $0.70.

Key news and market narratives impacting WIF include:

1. Whale accumulation patterns have been observed over the past week, with traders targeting a swing breakout and circulating chart setups projecting a potential +400% upside based on Fib extensions.
   
2. Despite weak fundamentals, community-driven hype and meme coin momentum remain active across X and Solana ecosystem forums, where WIF still holds cultural value and trader engagement.
   
3. ETHNews analysts have noted a convergence of RSI and MACD bullish divergences, combined with a drop in open interest — signaling that late short sellers may be vulnerable to liquidation squeezes.
   
4. A viral “Las Vegas Sphere x WIF campaign rumor” briefly resurfaced on Crypto Twitter, reigniting old speculation, though no confirmation has been provided from credible sources.
   
5. Some technical traders are now calling for cycle targets as high as $4.00, while cautioning that macro conditions (e.g., Bitcoin pullbacks) could derail the local bullish structure if broader sentiment reverses.

Trading volume for the memecoin reached $603.7 million during this period. ETHNews now assess whether this represents a temporary rebound or the start of longer upward movement.