Active Dogwifhat wallets increased by 20%, and the Solana-based meme coin recorded over $700 million in trading volume in two days.
By Bhushan Akolkar
Editor Yana Khlebnikova
Updated
2 mins read
As Bitcoin and the broader crypto markets have been showing strength recently, meme coin Dogwifhat (WIF) rallied to $0.85 on Wednesday, with bulls targeting a rally past $1. The WIF price rally comes with its daily trading volume surging to $333 million, showing strong trader interest to support further rally.
Active wallets managing WIF surged by 20%, with daily trading volume exceeding $70 million, pushing the Solana-based meme coin closer to the $1.00 threshold. Reports indicate the Dogwifhat network recorded over $700 million in trading volume over the past two days.
This rally comes as the broader crypto market reacts positively as geopolitical tensions subside with Iran and Israel announcing a ceasefire after a 12-day war. As a result, the WIF price rallied from the lows of $0.63 on June 23 to the highs of $0.85.
graph
Community posts reveal that Dogwifhat holders have pooled resources to fund eye-catching billboards and exclusive merchandise launches. These grassroots initiatives, amplified through social media campaigns, have sparked a surge in interest around the token.
For a long time, the Dogwifhat price has been trading in a falling wedge channel. Once again, WIF has faced rejection at the upper end of the channel at $0.86 and is currently trading down 9.32% at $0.76. As shown in the image below the wedge support is currently at $0.54. Crypto analyst ‘Crypto avails’ noted that only if the WIF price manages to break out above this wedge pattern, it could trigger a rally all the way to $1.35.
WIF/USDT | Falling Wedge
📈 We previously gave a bearish signal for $WIF, which resulted in a ~20% drop. Now, we’re seeing a falling wedge pattern. If it breaks out to the upside, the target will be around $1.35.
📊 This target is valid only if the breakout occurs. Buying… pic.twitter.com/UcRCv2YEu4
— Crypto Avails (@cryptoavails) June 26, 2025
As of now, WIF is testing the crucial support at $0.77, losing which could trigger another 10% fall to $0.71. Market analysts suggest that WIF’s trajectory is closely linked to Bitcoin’s performance and the broader Solana ecosystem. Sustaining Bitcoin prices above $105,000 is seen as critical for maintaining the token’s upward momentum.
Trading experts advise caution with meme coins like WIF, citing their high volatility. They recommend using tight stop-loss orders and managing position sizes carefully to mitigate risk.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
