Dogwifhat (WIF) surges 18.56% to $0.9558 on buying spree

Dogwifhat (WIF) experienced a significant rebound, rising 18.56% to reach $0.9558 on Thursday, marking its highest point in three weeks. By the time of publication, WIF had settled near $0.94. This price surge was driven by a notable increase in buying activity, with purchasers acquiring over 72 million WIF tokens within 48 hours. The buy volume exceeded the sell volume for two consecutive days, indicating a clear shift from seller dominance to buyer control. On Thursday, the buy volume was $9.44 million against $8.88 million in sells, while Wednesday saw $63 million in buys versus $61 million in sells. This shift suggests renewed demand after a period of seller control.

Derivatives traders mirrored the spot market interest. Open interest, which reflects active futures contracts, climbed 25.51% to $441.49 million. The trading volume for WIF futures jumped 88.9% to $2.3 billion. A positive funding rate confirmed that 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 that some investors secured gains near the local price peak despite ongoing buying pressure.

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 factors impacting WIF include whale accumulation patterns observed over the past week, with traders targeting a swing breakout and circulating chart setups projecting a potential +400% upside based on Fib extensions. Despite weak fundamentals, community-driven hype and meme coin momentum remain active across forums, where WIF still holds cultural value and trader engagement. 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. 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. Some technical traders are now calling for cycle targets as high as $4.00, while cautioning that macro conditions could derail the local bullish structure if broader sentiment reverses.