Active wallets handling WIF jumped by 20%, and daily volume hit over $70 million. All those actions brought the Solana meme coin to within range of the $1.00 mark.
Network Activity Shoots Up
Based on reports, the Dogwifhat network saw a jump in trading volume to over $700 million in the past two days. That level of activity is rare for a token ranked 45th by market cap at about $1.75 billion.
It now sits behind Dogecoin and Shiba Inu but outpaces fellow Solana names like FLOKI, PEPE and BONK. A sharp reversal off the $0.70 low got traders’ attention before the current uptick.
Community Funds Billboards And Merch
As per community posts, Dogwifhat holders have contributed funds for attention-grabbing billboards and special merchandise drops. Grassroots campaigns rolled out on social media channels, fueling renewed interest.
That momentum helped to maintain volume levels over $70 million a day and continued to keep wallet counts rising. Support at $0.81 held firm when the rally began, giving buyers confidence.
Based on chart analysis, WIF broke out of a descending wedge on the 4-hour chart. That pattern formed over the past week before prices cleared the $0.83 level on higher trading volume.
The Relative Strength Index sits near 60, below overbought territory, suggesting there’s still room to run. Traders now eye a move to $0.90, the next Fibonacci retracement. A push past $1.00 would be the strongest signal yet.
According to market watchers, WIF’s fate is tied to Bitcoin and the wider Solana ecosystem. Maintaining Bitcoin above $105,000 will be crucial for keeping momentum.
Any pullback could force WIF back toward support at $0.77 or even the recent floor at $0.71. At the same time, new exchange listings or partnership news could stoke another leg higher.
Risk Management Key For Traders
According to trading guides, meme coins such as WIF bear large swings. Smart traders are encouraged to place tight stops and control position sizes.
A retreat below $0.80 would be a call to exercise caution. In case support fails, prices can test the lower bands once again. But if the coin holds ground, a run at $1.00 could spark fresh buying.
