WIF Drops 74% in 2025, but 33% Rally Possible

WIF, a prominent memecoin, has been under significant pressure from sellers in 2025, with its value dropping by 74% since reaching a high of $2.22 on January 3. At the time of writing, WIF was consolidating within a two-month range formation. The price of the memecoin was well below its realized price, indicating that holders may be under intense bearish duress and facing high losses. The MVRV ratio, which was at 0.48 at press time, also highlighted this bearish market sentiment, reaching its lowest ever value of 0.22 on April 8.

Despite the bearish sentiment, technical analysis revealed that the chances of a rally for WIF may be rather good. There were three pieces of evidence supporting the idea of a 33% rally from the press time market price of $0.574. The first was the range formation, with the mid-range support level at $0.54 being tested a couple of days ago and WIF beginning to bounce higher. Usually, such a defense of the mid-range level would be followed by a rally to the range high. The second clue was the OBV’s trend over the past two weeks, which managed to climb past the highs set in April, reflecting strong buying pressure over the past ten days. This increased the likelihood of a rally. The third clue was Bitcoin’s bullish short-term momentum, which, while not as compelling as the previous two arguments, is usually the rising tide that lifts all boats, and one of these boats could be dogwifhat.

In the long term, WIF bears are likely to remain a dominant force. Nevertheless, swing traders could profit from this bullish setup. The mid-range retest as support means WIF could rally 33%. The recent rebound in WIF's price has been influenced by broader market trends and increased market demand. The cryptocurrency market has been experiencing a period of volatility, with prices fluctuating in response to various factors. However, WIF has managed to stand out amidst the turbulence, demonstrating its resilience and potential for long-term growth. Investors are increasingly recognizing the value of WIF, leading to a surge in demand and a corresponding increase in price.