Dogwifhat Takes Off in Early June — Is a $2 Moonshot Just Around the Corner?

Jakarta, Pintu News – Despite losing its top spot among Solana (SOL)ecoins, dogwifhat (WIF) was still able to outperform most of its competitors on June 3, 2025. In the span of 24 hours, the price of WIF increased by 15%.

Currently, theecoin is on the verge of hitting the $1 mark again, a level that it fell to at the end of last week.

Here’s a breakdown of the factors driving WIF’s resurgence in early June, as well as a look at the token’s likely trajectory moving forward.

WIF Back in the Spotlight

Based on the 4-hour chart (3/6/25), WIF managed to break the $0.88 resistance level as the bullish momentum strengthened. The buyers firmly defended the support level at $0.80, pushing back the pressure from the bearish side.

Read also: Can Dogecoin (DOGE) Hit a New All-Time High in 2025?

This change in sentiment is also reflected in the Chaikin Money Flow (CMF) indicator, which is used to track buying pressure (accumulation) and selling pressure (distribution).

A rising CMF indicates the presence of significant buying volume, while a falling one indicates greater selling pressure. In the case of WIF, this indicator tends to point to the bullish side.

In addition, there was also a change in the position of the Awesome Oscillator (AO) indicator. Before the WIF price went up, the AO was deep in the negative zone, indicating the dominance of bearish momentum.

However, to date, the indicator has consistently displayed green histogram bars, signaling a momentum shift from bearish to bullish.

WIF Potentially Continues to Rise

If this trend continues, the WIF memecoin has the potential to continue rising and will most likely break the resistance level at $1.03.

On the on-chain side, WIF’s trading volume jumped by more than 100%. On the previous day, the volume was recorded at slightly over $240 million.

However, to date, the volume has increased to $436.87 million. The increase in trading volume in line with the increase in WIF’s price suggests that buying pressure is outweighing selling pressure.

If this condition continues to persist, then it could add an upward push to this memecoin. In such a scenario, the market value of this cryptocurrency could potentially increase further in the next few days.

WIF Price Analysis: The Rally Gets Stronger

On the daily chart (3/6), the WIF price managed to refrain from printing a new lower low. As a result, the current price structure seems to be forming an ascending channel.

Read also: 5 Altcoins that could potentially rise 10x in the 2025 Crypto Bull Run

If this pattern continues to hold, theecoin is likely to break the $1 level soon. Additionally, the Relative Strength Index (RSI) indicator has crossed the neutral line to the upside, signaling bullish momentum is strengthening.

If this trend continues, WIF prices could potentially break the resistance at $1.10. If successful, the next target is a rally towards $1.72, which is close to the 0.618 Fibonacci level (golden ratio).

In a scenario with stronger buying pressure, WIF could even reach $2. However, if the bullish momentum weakens, the price of WIF risks breaking the lower boundary of the rising channel.

If that happens, the price could drop to support around $0.56. Under extremely bearish market conditions, the decline could continue down to $0.30.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• CCN. Dogwifhat (WIF) Outpaces Rivals With Early June Rebound – Solana Memecoin Eyes $2. Accessed on June 4, 2025