Dogwifhat Surges 25% as Bitcoin Reaches $106,129

Dogwifhat (WIF) has surged by more than 25% in the last 24 hours, reflecting a broader resurgence in the crypto market, driven by Bitcoin's decisive move above $106,000. This sudden momentum in meme coins is occurring alongside renewed investor optimism, fueled by easing geopolitical tensions and a robust technical setup that could pave the way for further gains.

Bitcoin (BTC) has rebounded sharply to a 24-hour high of $106,129 after former US President Donald Trump publicly called for peace between Israel and Iran, defusing escalating fears that had recently sent markets into turmoil. Traders quickly interpreted Trump’s message as a geopolitical cooldown, shifting sentiment from risk-off to risk-on almost instantly. The move followed a volatile weekend that saw Bitcoin dip below the psychological $100,000 mark for the second time in days, only to recover within hours. As a result, bullish traders are now eyeing the next resistance band near $106,171 and $107,673, where sellers have been actively defending their positions. Despite that, institutional conviction remains firm, with over $350 million in ETF inflows reported on Monday and exchange reserves falling to 2.485 million BTC, suggesting continued accumulation.

On-chain data from CryptoQuant reveals a rising taker buy-to-sell ratio on Bybit, indicating that aggressive buyers are dominating current order flows. This trend closely mirrors past bullish reversals, with similar setups in 2020, 2021, and 2023 preceding rallies of up to 400%. Moreover, the number of exchange depositing addresses has plunged to a 10-year low, pointing to increased long-term holding behavior. Whales appear to be capitalizing on retail fear during the Israel–Iran conflict, using the low-liquidity environment to accumulate ahead of what some analysts now believe could be a short squeeze. If the bull flag pattern on Bitcoin’s daily chart confirms, it would support a potential move toward $117,700, based on the measured flagpole projection.

Amid Bitcoin’s rally, Dogwifhat has emerged as a standout performer, climbing from recent lows under $0.72 to nearly $0.88 within a day. This 25% surge followed a breakout from a descending wedge pattern on the 4-hour chart, backed by surging volume and a 22% increase in active wallet addresses. Traders are now eyeing the $0.91 Fibonacci retracement level, with $1.00 firmly in sight if Bitcoin maintains its current trajectory. The meme coin’s strong community engagement, strategic listings like Robinhood, and high visibility compared to other meme coins like PEPE and FLOKI continue to fuel its resilience. Still, support at $0.83 will be critical to hold if momentum stalls, as a breakdown could drag $WIF back toward the $0.72 range lows.

While Dogwifhat breaks higher, Solana (SOL) remains stuck in a structural loop that continues to block its path to $180 and beyond. Despite a recent 7% bounce lifting the token back above $145, the price remains trapped within a resistance-heavy band between $144 and $168. On-chain data shows that nearly 160 million SOL were acquired in this range, creating a dense sell wall that activates each time the price nears the $180 level. Whale wallets holding more than 10,000 SOL have followed a pattern of tactical accumulation near support and rapid distribution near resistance. This feedback loop of profit-taking is keeping price suppressed and has limited the effectiveness of broader market rallies on Solana’s performance. Until smart money shifts from range-trading to directional conviction, a move toward the $200 mark remains out of reach.

Despite the volatility, the market tone has shifted favorably, driven by macro-level optimism and technical setups aligning across major assets. Bitcoin’s strength above $106K is giving traders confidence, and Dogwifhat’s breakout is energizing meme coin sentiment across Solana’s ecosystem. However, Solana’s inability to sustain upward momentum underlines the fragility of altcoin rallies without clear whale conviction. With economic data and Fed commentary on rate cuts expected later this week, traders are bracing for fresh catalysts that could either reinforce the rally or spark new waves of volatility.