Dogwifhat Surges 10% as Investors Rotate into Altcoins

Dogwifhat (WIF) has shown significant strength in the market today, with its price surging over 10% and trading around $1.22. This surge comes as investors rotate their funds out of Bitcoin and into riskier altcoins, with WIF being one of the top performers in this shift. The broader crypto market has seen a modest increase of about 1%, but the Altcoin Season Index has surged by 235% this month, indicating a clear shift in investor attention towards altcoins.

WIF has outperformed other meme coins such as PEPE and FLOKI over the past week. This performance can be attributed to renewed interest in Solana-based meme tokens. Analysts have noted that WIF's price has broken out of a falling wedge pattern, which aligns with the recent surge in volume and price action. This technical development suggests a bullish outlook for WIF in the short term.

Looking at the 4-hour chart, WIF has broken above the previous resistance zone around $1.15, which is now acting as support. The price is climbing in a strong upward channel, with short pullbacks being quickly bought up. After reaching a local high near $1.26, WIF pulled back slightly but remains well above its trendline and the 50 EMA. The chart shows clear signs of strength, with volume rising as the price breaks out, confirming the bullish momentum. If WIF can stay above $1.18–$1.20, the structure remains bullish. The RSI is elevated but not yet in extreme territory, suggesting there is still room for upside.

For the short-term price prediction, as long as the price stays above $1.15, the bulls are in control. A close above $1.26 could trigger a swift move to $1.30, with the next substantial target around $1.35–$1.40. If the price breaks below the $1.15 mark, it will find support around $1.05, then at the psychological figure of $1.00. Momentum and volume are currently on the side of the bulls, and if market conditions remain bullish, WIF could continue powering towards new intraday highs this week.

Dogwifhat is currently one of the strongest meme coins in the market. The growing interest in Solana meme tokens, strong whale accumulation, and a breakout from a falling wedge pattern all contribute to a solid setup. On-chain data supports this rally, with the top 100 wallets adding 25 million WIF since July 16, and exchange balances falling by 2%, indicating long-term holding behavior. As long as the $1.15 support zone holds, the trend remains bullish. Traders will be watching for a break above $1.26 to confirm the next leg up.