Dogwifhat (WIF) has dropped by 15.78% over the past week, currently trading around $2.06. Analysts are watching this dip below support, and traders are eyeing the “demand zone” between $1.6 and $1.8 as a potential buying opportunity.
Market Rally and Dogwifhat’s Slowdown
At the end of October, #bitcoin☀️ surged close to its all-time high of $73,000, sparking a strong rally across the cryptocurrency market, especially among meme coins. One of the tokens that gained attention during this rally was Dogwifhat (WIF). However, as November began, this positive momentum started to fade.
Currently, WIF’s price sits around $2.06, a 15.78% drop in the past week. Despite this decline, trading volume remains high, with around $602 million flowing through the token, indicating continued interest among traders.
Analysts Warn of a Potential Further Decline
The crypto community is closely monitoring this price drop. Renowned analyst George highlighted that WIF may face additional downward pressure. According to him, WIF has fallen below its previous support level of $2.15, a movement that often signals further declines. This drop could trigger stop-loss orders, leading to the elimination of weaker buy positions.
Demand Zone as a Potential Buying Opportunity
Traders are now focusing on the so-called “demand zone,” a key area on the charts where buying interest typically resurges. This zone, located between $1.60 and $1.80, could present a major buying opportunity if the price drops to this level. George notes that many traders plan to enter long positions if WIF approaches this zone, expecting a rebound.
Current Price Movement of Dogwifhat
At the time of writing, WIF has slightly recovered to $2.08 after hitting an intraday low of $1.96. However, it remains below the upper line of the Bollinger Bands, indicating potential room for an upward move if WIF can break through these resistance levels.

The MACD indicator also shows signs of a potential bullish momentum, with the current value at -0.089, slightly above the signal line at -0.095. Meanwhile, the Relative Strength Index (#RSI ) suggests that WIF may be oversold, indicating a possible upward reversal if buying pressure increases.
Dogwifhat’s Future and Key Levels to Watch
As Dogwifhat navigates these challenges, traders will be closely watching the support level around the $2 zone, hoping for a recovery as the market continues to evolve.
#Dogwithhat , #memecoin🚀🚀🚀 , #CryptoPredictions

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

On March 31, the price of WIF hit a record high of nearly $5, marking the peak of a significant uptrend that started in February from a low of $0.20, resulting in a 3000% increase.
The upward movement culminated in a five-wave impulse pattern, which was followed by a subsequent downturn.By May 19, WIF formed a base near $2.50 and continued its uptrend, rising by approximately 60%.After a month of weak price action, dogwifhat has regained momentum and is close to reclaiming the $4 mark.WIF price surged over 30% after breaking above a decisive symmetrical triangle and is now close to $4, just 12% below the all-time high.To confirm a bullish breakout near the current ATH of $4.86, the price needs to close above the ascending trend line at around $4.According to Coingabbar analysis, By the end of the month, dogwifhat could initiate a new bullish push towards new highs above $5.However, a bearish reversal might pull the price back to its support trendline.
KEY LEVELS :
RESISTANCE LEVEL : $4.86000-$6.00000
SUPPORT LEVEL : $3.00000-$2.00000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
#Megadrop #BinanceLaunchpool #memecoin🚀🚀🚀 #buythedip #Dogwithhat @Binance Research @Coingabbar Analysis @CZ @Binance Square Official $WIF

In the cryptocurrency market, Dogwifhat $WIF has caught the attention of traders with a significant upward move. After a tough August that saw many memecoins, including WIF, hitting new lows, WIF has rebounded impressively. In the last 24 hours, Dogwifhat has surged by 11.79%, bringing renewed optimism to its holders.
Technical Analysis: $2 on the Horizon?
Just recently, we highlighted that Dogwifhat was trading near its critical support level of $1.41, and a potential breakout was on the cards. As anticipated, the memecoin has made a strong recovery, pulling back from $1.41 to its current price of $1.59.

Source: TradingView
From a technical standpoint, the Relative Strength Index (RSI) currently stands at 45.86, indicating that WIF is still in a neutral zone. However, the RSI-based moving average (MA) is slightly higher at 46.46, suggesting a potential shift toward bullish momentum. While these RSI values do not yet signal an overbought condition, they indicate that the upward move has room to grow.
The key resistance level to watch is $2.00. If WIF continues to gain momentum, it could target this resistance, representing a potential 28% upside from the current price. A successful breach of this level could trigger further bullish action, pushing WIF into a higher trading range.
However, the RSI levels indicate that WIF is still within a cautious zone, and a sustained increase in buying pressure is needed to confirm a bullish breakout. Traders should watch for an increase in volume and positive market sentiment, as these factors will be critical in determining whether WIF can push past the $2.00 resistance.
To get more updates, visit us at: https://coinsprobe.com/
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice
#Dogwithhat #WIF #Memecoins