- WIF is trading below a key trend line, with analysts targeting $0.608 as wave-c develops.
- Support at $0.51 remains intact, attracting buyers despite recent pullbacks and resistance pressure.
- Trading volume surged 69.44%, showing strong activity as WIF navigates a key technical structure.
WIF (dogwifhat) is currently priced at $0.6626 and continues to trade beneath a key descending trend line. According to analysts, this position suggests the asset remains in wave-c of a larger corrective wave ii. The projected path indicates that WIF could reach the 100% Fibonacci extension level at approximately $0.608 if this structure plays out.
Elliott Wave Structure Points to $0.608 Target if Resistance Holds
According to analysis prepared by Man of Bitcoin, WIF is moving within a corrective wave structure defined by Elliott Wave Theory. The current trend suggests wave-c of wave ii is in motion.
As long as the price remains below the descending trend line, the 100% Fibonacci extension at $0.608 is considered a realistic short-term target. The descending trend line has held as resistance during several recent attempts to break higher.
This technical ceiling plays a crucial role in maintaining the ongoing structure. Should the price remain capped below this level, continuation to the $0.608 target is expected by traders observing wave theory dynamics.
Support at $0.51 Remains Strong While Momentum Builds
According to Crypto Catalyst, WIF has maintained support at $0.51 despite the recent price pullback. This level has functioned as a key demand zone since early 2025 and continues to attract buyer interest.
Trading activity has remained elevated, with a 24-hour volume of $342.1 million, reflecting a 69.44% increase. WIF’s circulating supply stands at 998.84 million tokens, with no additional supply scheduled for release.
The volume-to-market-cap ratio of 51.69% also reflects a healthy trading environment. If momentum continues and the price breaks the descending trend line, some analysts believe a move toward $2 could become possible, depending on broader market conditions.
