Highlights:
- WIF could rally to $2.09 now that bulls are taking control
- Rally is likely to be sustained by strong, broader marketwide momentum
- Whales are also likely to keep WIF demand strong going forward
DogWifHat (WIF) is up strongly today, and stands out among the top performers of the 100 largest cryptocurrencies by market capitalization. When going to press, WIF was up by 12.85% in the day to stand at $0.973. DogWifHat trading volumes are also rising by 117.23% in the day to stand at $516 million.
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This indicates increasing expectations around WIF at the moment. It indicates a rise in FOMO around WIF, which could see its price rally to new highs in the short to medium term. Multiple factors are driving the strong bullish momentum around WIF going forward.
Bitcoin Price Action Could Send DogWifHat Price Higher
The first is that Bitcoin is gaining upside momentum. In the last 24 hours, Bitcoin has rallied through $110k and is currently trading at $111,100, showing signs of more upside momentum. This is an indicator that bulls are firmly in control and that the much-awaited parabolic bull leg of the 2024/25 cycle is in.
🚀 #Bitcoin eyeing $120K? 📈
Bullish signals are LOUD: Golden Cross ✅, ETF inflows 💰, and pro-crypto policies on the horizon. Breakout past $112K could send #BTC parabolic! Are you HODLing or waiting for a dip? 🧠💪 #Crypto #Investing #BTC pic.twitter.com/yFycBn2Zx7— Azu Tech (@Azutech0) July 10, 2025
Whenever Bitcoin sends strong bull signals, the broader market tends to follow suit. Investors also tend to gravitate towards cryptocurrencies that show strong bullish signals early. WIF is one of three meme coins sending strong bullish signals now that bulls are taking control of the market. If Bitcoin continues to rise, WIF could see a surge in FOMO. This could cause it to continue to record intraday gains in the double digits.
Whales Are Increasingly Bullish On DogWifHat
The ongoing bullish momentum around DogWifHat is also driven by whales loading up in big numbers. DogWifHat whales have accumulated a considerable amount between $0.80 and the current price. This indicates that big money players expect WIF to go even higher now that the broader market is sending bullish signals.
Whale accumulation also sends positive signals to the market. It signals that big players are choosing WIF over the thousands of other meme coins dotting the cryptocurrency landscape. The result is that retail money could also FOMO into WIF and push its price to record highs in the short to medium term.
Analysts In Consensus That WIF Is Going Higher
Analysts also add to the bullish sentiment by offering a positive outlook for WIF in the short term. There is consensus that DogWifHat has successfully broken out of a descending wedge pattern. Such a breakout usually signals that bulls are taking control after a consistent period of bear weakness. With the breakout from this descending wedge, analysts now believe WIF could be headed for $2 in the short term. This is creating excitement in the market, as such a rally could offer a significant return on capital, especially for leveraged short-term trading.
WIF Still Way Off From All-Time Highs – Bullish Signal Short Term
There is also growing excitement around WIF because it is still a long way off from its all-time highs that were above $4. With the market sending signals of a potential rally to new all-time highs, investors are scouting for cryptocurrencies that offer the highest possible return based on their current prices.
WIF is among the best on this front, especially in the meme coin space. Even if WIF were to return to its all-time highs, it would be a significant return on capital. Since cryptocurrencies tend to do several multiples of their all-time highs in bull markets, a potential WIF rally to $10 makes the current price even more attractive to investors.
Technical Analysis – DogWifHat Price Yet to Breach Multi-Week Resistance Despite Rally
Despite its ongoing price rally, DogWifHat is stuck between the $1.09 multi-week resistance and $0.32 support. If bulls continue the momentum that has built up intraday and breach the $1.09 resistance, then a rally to $2.09 could follow in the short term.
However, if bulls fail at the $1.09 resistance, WIF could continue range-bound trading. With the broader market turning bullish, the odds of a rally through the $1.09 resistance are higher.
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