WIF Hovers Near $0.76 Support as Whales Accumulate Amid Mixed Futures Signals

Dogwifhat (WIF) held firm at the critical $0.76 support level on August 26, with large holders stepping in to accumulate on the spot market. This level has repeatedly acted as a support for pullbacks throughout the year, reinforcing its significance as a key inflection point [1]. On the daily chart, the memecoin displayed early signs of stabilization, with buyers defending the level and bullish momentum showing signs of accumulation. The key ascending trendline support appears to be strengthening as the price consolidates [1].

According to data from CryptoQuant, large holders—commonly referred to as whales—were quietly building long positions at these trading prices. The Spot Average Order Size chart revealed consistent Big Whale Orders on the spot market, indicating confidence in WIF’s medium-term trajectory. Whale activity tends to be more strategic compared to retail trading behavior, as these investors typically avoid chasing short-term volatility. This behavior lends credibility to projections of a potential extended bullish trend [1].

At the same time, Open Interest (OI) in WIF futures rose steadily toward the end of August, signaling increased institutional engagement. Higher OI usually reflects larger players positioning for an extended move. The combination of rising OI and spot market accumulation supports the notion that investors remain optimistic about WIF’s potential [1].

However, the broader market picture is not entirely bullish. The Futures Volume Bubble Map from CryptoQuant showed a noticeable cooling in activity. Traders appear to be adopting a more cautious stance, with speculative momentum slowing. While the spot market looks robust, the derivatives market is conveying a more tempered narrative. This divergence between spot and futures activity often indicates a period of market consolidation. When whales continue to accumulate but futures traders scale back, the price can remain range-bound for an extended period, waiting for a catalyst to break the stalemate [1].

At this moment, the $0.76 support level remains a critical threshold. If this level continues to hold, the bullish momentum may persist, potentially driving WIF toward higher resistance zones in the coming sessions. Strong whale demand could act as a key catalyst in this scenario. On the other hand, if futures volume continues to decline, the upward trajectory could weaken before a breakout is possible. In such a case, the token may enter a phase of sideways consolidation, limiting immediate price action [1].

Source: [1] Dogwifhat [WIF] whales scoop $0.76 lows – But THIS metric shows risk! (https://ambcrypto.com/dogwifhat-wif-whales-scoop-0-76-lows-but-this-metric-shows-risk/)