- Dogwifhat shows strong market potential following a Coinbase listing and key technical breakthrough on the Solana network.
- A whale’s significant WIF withdrawal hints at strategic moves, fueling investor speculation in the coin market.
One of the best memes available in the Solana ecosystem, Dogwifhat has gained attention for its distinctive branding: a basic but appealing idea of putting a hat on a dog.
Lark Davis, renowned crypto analyst said that This meme coin exhibits notable downtrend resistance and is currently facing the challenge of reaching new all-time highs (ATH). Davis adds that the new Dogwifhat (WIF) listing on Coinbase was one of the main triggers for significant price swings.
Dogwifhat: Critical Levels and Potential Price Projections
Davis revealed his personal participation in the coin by stating that he joined the market at $2 during a retest of important support levels. The price of the token surged near its all-time high of $4.90, but a reversal occurred at this resistance level.
Now, WIF has returned to the $3.60 to $3.70 area, a notable historical resistance area that could turn into support. Davis highlighted the importance of this holding level and indicated that failure could result in a further decline towards $3, a vital line for the future price action of the meme coin.
Looking ahead, Davis spoke of hope WIF Price projections supported by Fibonacci extensions. With targets ranging from $7.30 to $11.30, or even $15, he expects a move beyond $4.90 to open the door to possible gains.
Davis acknowledged the inherent volatility and dangers of trading meme coins, but he also pointed to the Shiba Inu’s 1,200% rise after its debut on Coinbase as proof that, given the right market conditions, a sizable rise is likely.
Besides this, the CNF previously reported that a whale withdrew WIF worth $15.87 million from Binance, implying possible calculated market movements. Meanwhile, at the time of writing, WIF has changed hands to $3.76A 5.10% increase over the last 24 hours and an incredible 56.60% increase over the last 7 days.