Dogwifhat (WIF) is turning heads again after erupting 35% in a single day, reigniting speculation around a long-awaited meme coin breakout.
An Elliott wave—concluded by a 35% surge during Tuesday trading—points to the bullish continuation of a 5-month cup-and-handle pattern, boosting the long-term WIF price outlook.
The 24-Hour move positioned WIF as the highest-gaining meme coin in the top 100, rallying alongside others as risk-on sentiment returned with a ceasefire in the Israel-Iran conflict.
With the ceasefire remaining tentative and delicate, here’s where WIF is heading next.
WIF Price Analysis: Is the Correction Finally Over?
The completion of an Elliott wave—with a 5-wave upward movement starting in April, followed by an A-B-C correction—could mark the end of a wider cup-and-handle.
WIF / USDT 1-day chart, Elliott wave, and cup-and-handle. Source: TradingView, Binance.
The structure suggests the May-born downtrend may be exhausted, with wave C extended 1.618 times the length of wave A and support found at the 0.618 Fibonacci retracement of the previous 5-wave move.
The alignment of these technical markers forms a confluence zone, often indicative of high-probability reversals—further supported by key momentum indicators.
On the 1-day timeframe, the MACD line has completed its first golden cross since the corrective wave began, overtaking the signal line in a potential early sign of a new WIF price uptrend.
More so, the RSI has reclaimed neutral territory around 50, suggesting renewed buying pressure after weeks of weakness.
Notably, both the 5-wave impulse and the following A-B-C correction align with the structure of the multi-month cup-and-handle pattern.
Given the correct timing of the Elliott wave, a pattern breakout could be in the cards, targeting key resistance at $0.935 in alignment with the 0.382 Fibonacci level.
A confirmed break above this level would open the door for a bullish continuation toward the cup-and-handle breakout target near $2—representing a potential 130% upside.
That said, holding immediate support at $0.814—in line with the historic accumulation zone and the 0.5 Fibonacci level—is crucial to maintain the bullish outlook and avoid a return to wave C.
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The post WIF Price Prediction: 35% Daily Jump Puts Long-Awaited Breakout in Motion – Is $2 Within Sight? appeared first on Cryptonews.
