Dogwifhat (WIF) Set for Liftoff: Is $3.7 in Play?

TL;DR

• Dogwifhat forms a classic cup and handle pattern, setting stage for possible breakout rally.
• Analyst sees WIF breakout targets at $1.75, $2.20, $2.85, and $3.70 if structure holds.
• Whale buys and rising Open Interest fuel bullish momentum as the price reclaims the $1.20 neckline.

Pattern Suggests Shift in Trend

Dogwifhat (WIF) is trading near a key level after forming a cup and handle on the daily chart. This setup began in March with a rounded base and continued with a sideways range into July. The price now sits just above the neckline between $1.20 and $1.25.

At press time, WIF trades at $1.23, showing an 11% increase in the past week. If the price stays above this level, it may confirm a breakout. Support from the 100-day simple moving average, around $0.84, has helped shape the pattern over the last few weeks.

Levels to Watch Closely

Notably, the first area of support is near $1.00. Below that, the $0.84 mark lines up with the moving average. A deeper pullback could bring the price back to $0.70, which acted as a floor during earlier consolidation.

If momentum continues, targets to monitor are $1.75, $2.20, $2.85, and $3.70. These numbers reflect earlier price reactions and the depth of the cup formation. Analyst Jonathan Carter wrote, 

“If the pattern holds, we could see the price surge toward targets at $1.75, $2.20, $2.85, and $3.70.”

#WIF

Dogwifhat is ready to breakout off the neckline of a cup and handle pattern on the daily chart

If the pattern holds, we could see the price surge toward targets at $1.75, $2.20, $2.85, and $3.70 pic.twitter.com/11DMO5pq9B

— Jonathan Carter (@JohncyCrypto) July 22, 2025

Trading Activity and Chart Signals

The Relative Strength Index (RSI) is now near 70. This level often shows strong demand, though it may also suggest the need for a short rest. On the volume profile, there is a lighter zone above $1.30, which could allow faster movement if the breakout continues.

Open Interest in WIF futures has grown to $660 million, according to CoinGlass. That’s an 11.5% increase from the previous week. More interest in futures often points to rising capital inflows from both sides of the market.

A recent purchase by the firm WIFStrategy added to the momentum. On July 13, they acquired 500,000 WIF tokens. The price jumped 30%, hitting $1.30 before settling near $1.22. This move pushed WIF above its earlier channel, where it remains at the time of writing.