Dogwifhat (WIF) is showing firm technical signs of a potential uptrend continuation on the daily price chart this week. WIF is trading at $0.8369 currently with 24-hour trading volume of $240.14 million and market capitalization of $836.02 million.
In the past week, the value of WIF rose by 26.83 percent, which is an indication of increasing demand for the Solana-based meme coin among the trading community. Analysis by trader RamseyCrypto outlines the creation of the bull flag pattern in the daily chart of Dogwifhat.
A bull flag pattern is established when the powerful price movement to the higher side, the flagpole, is followed by the downward-sloping consolidation channel. This flag indicates a temporary price pause before the next possible upward movement begins again.
The price rise that started the pattern shows momentum with heavy buying volume, which has since settled during the flag formation. The lines drawn in the chart mark a narrow price range between resistance and support levels, suggesting investor indecision.
Meme coin WIF prepares for a bullish move
A breakdown is also possible if the price penetrates the higher trendline with increasing trading volume. It would confirm bearish attitude and could trigger the next significant price decline.
Three price targets have been shared if the breakout occurs. The first take-profit level stands at $1.630, while the second level reaches $2.110, and the third level touches $2.690.
These targets reflect near 95 to 220 percent upside from the current price zone if the pattern plays out successfully.
While the chart shows strong potential, the nature of meme coins like WIF includes unpredictability and fast sentiment shifts. Traders following technical setups must watch volume spikes and market-wide movements before confirming any trade direction.
Investors remain cautious despite the bullish setup as volume confirmation and price breakout remain key to validating the expected upward move.
