Solana News Today: Dogwifhat (WIF) Price Surges 40% Approaching $1.20 Resistance

Dogwifhat (WIF), a popular Solana-based meme coin, has seen a resurgence in its price, climbing back above $1.00 and approaching the $1.20 resistance zone. This level previously acted as a barrier to its upward momentum earlier this year, making it a critical point for traders to watch. The recent price action of WIF is part of a broader trend among meme coins, which have been gaining traction in the market. The Solana-based BONK and WIF meme coins are among those eyeing further gains as the uptrend maintains its momentum. The launch of a multiplayer game could potentially extend the rally of other meme coins, adding to the overall bullish sentiment in the market.

Prominent analysts on X (formerly Twitter) have shared charts highlighting the move, pointing out fresh momentum and stronger buying interest. This rebound comes after a rough start to the year, with WIF price dropping from above $2.00 in January to under $0.40 by March, marking a significant correction from its earlier highs. However, things started to change in April as the price began forming a base. Over the past few weeks, it has built a rounded bottom pattern and broken out of its consolidation zone. As of today, WIF price is trading around $1.10, up more than 40% from recent lows.

For months, WIF buyers have been defending key levels. The $0.40 zone held firm during the downturn, and by late June, the token made a higher low around $0.60–$0.65. That move kicked off the current uptrend. Now, the $0.87–$1.06 range is seen as a strong buy zone because WIF price spent weeks consolidating there. This range also lines up with major moving averages, which often act as support in an uptrend. The real test comes at $1.20. WIF failed to clear this level twice before, in May and June. If bulls push through this time, the next stop could be the $1.45–$1.50 area, where heavy selling came in during the last breakdown. A run toward $2.00 would be a longer-term goal, but for now, holding $1.06 on any pullback is key for keeping momentum alive.

On X, analysts pointed out that breaking above $1.00 signals a possible trend flip, with volume picking up across Solana. Both updates show that sentiment is turning positive again. With the community backing and technicals lining up, all eyes are now on $1.20 to see if WIF can confirm its comeback. Analysts have noted that WIF is currently in a volatile holding pattern. If another meme mania were to hit the market, WIF could experience an explosive breakout, potentially retesting the $2–$3 zone. However, it is important to note that this is purely speculative and based on market conditions that are subject to change. The volatile nature of meme coins means that traders should exercise caution and be prepared for sudden price movements in either direction.