The post Dogwifhat Price Prediction: Market Cap Hits $886M Amid 4.25% Rally appeared on BitcoinEthereumNews.com.

Dogwifhat (WIF), a meme-inspired cryptocurrency on the Solana blockchain, is showing renewed bullish activity following a short-term price rally The token has recorded a 4.25% increase in the past 24 hours, bringing its market capitalization to approximately $886.9 million. Supported by a notable rise in trading volume and improving momentum indicators, WIF is attracting the attention of traders seeking short-term volatility and potential breakout opportunities. While price action remains below previous highs, the recent upward movement, coupled with increasing open interest and steady volume, signals improving sentiment. However, broader technical conditions suggest that sustained gains will depend on continued participation and key resistance levels being reclaimed. 1-Hour Chart Reflects Volatility and Short-Term Recovery Attempts The 1-hour WIF/USD chart from Coinbase shows a volatile series of moves throughout early June. The token experienced a steep drop at the end of May, followed by a stabilization period between June 1 and 2. A sharp bullish breakout occurred on June 3, with the price temporarily exceeding $1.00 before facing resistance. The retracement that followed suggests a classic pump-and-fade pattern, indicating difficulty in holding levels above key psychological zones. Source: Open Interest From June 4 to 6, the price structure reflected weakness, forming lower highs and lower lows indicative of a short-term bearish bias. A brief recovery spike occurred in early June 7, pushing the price to $0.90 before another rejection. At the time of reporting, WIF is trading near $0.883 after a slight intraday loss of 1.12%. This behavior suggests hesitation among short-term traders, with no clear directional conviction in the current range. The Aggregated Open Interest (OI) indicator shows fluctuating trader participation. OI remained low prior to the June 3 rally, surged during the breakout, and then dropped as prices corrected. The recent uptick in OI accompanying the June 7 price rebound…

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Filed under: News - @ June 8, 2025 4:01 am