By , |Edited by
Updated Jul 5, 2025, 9:43 p.m. Published Jul 5, 2025, 3:30 p.m.
- WIF traded in a 5.1% range between $0.821 and $0.864 over the past 24 hours.
- High-volume reversal from $0.835 suggests whale-backed support zone is holding.
- Whale wallets have accumulated 39 million WIF as memecoin rotation intensifies.
Dogwifhat (WIF) continues to draw attention amid volatile market conditions, with the token consolidating around $0.8319 after dipping 1.17% over the past 24 hours, according to CoinDesk Research’s technical analysis model. As for the broader memecoin sector as gauged by the CoinDesk Memecoin Index (CDMEME), it is up 1.79% during the same period.
Price action formed a 5.1% range from $0.821 to $0.864, with critical support confirmed near $0.835 on significant volume. A sharp rally earlier this week to $0.92 drew profit-taking, but technical strength remains as WIF holds above its new local floor.
STORY CONTINUES BELOW
Blockchain analytics show whale wallets have accumulated more than 39 million tokens, a pattern that aligns with broader memecoin rotation underway across Solana-based assets. This trend comes as BONK surged earlier on ETF speculation, while WIF retests key zones with declining volume and fewer short liquidations.
The passage of President Trump’s “One Big Beautiful Bill” by Congress earlier this week brought short-term calm to risk markets. Combined with better-than-expected U.S. jobs data, sentiment around risk assets improved marginally, reducing macro-related selling pressure. Even as broader crypto faces headwinds from shifting trade and monetary policy dynamics, WIF’s on-chain fundamentals remain constructive.
With derivatives markets booming — Binance has now facilitated $650 trillion in cumulative BTC futures volume — attention is turning to retail-driven tokens that continue to show resilience. If WIF maintains support and volume rebounds, a retest of $0.86 may be in play.
Technical Analysis Highlights
- WIF traded between $0.821 and $0.864 over the 24-hour window ending July 5 at 14:00 UTC.
- High-volume bounce from $0.835 to $0.861 confirmed strong support level.
- Whale accumulation spiked during a 60.7M token volume surge over a 9-hour session.
- In the final hour (13:06–14:05 UTC), WIF rebounded from $0.828 to $0.831.
- Resistance formed at $0.838 with heavy sell pressure at 13:25–13:26.
- Temporary support held at $0.828 after sharp sell-off between 13:54–13:56.
- Modest late-session recovery hints at short-term consolidation range.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to . For more information, see .
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our .
Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
Top Stories
