Can Dogwifhat Repeat Its Early 2024 Pump? Here’s Why WIF Price Could Hit $3 Soon

Dogwifhat (WIF) is back in the spotlight as meme coin hype sweeps through the crypto market. The price is up almost 20% today, currently around $1.08. With a growing number of altcoins showing similar breakout patterns, WIF has caught the attention of traders who wonder if it could repeat its explosive run from the past.Crypto expert Ansem shared a chart on X that added to the noise. He called the setup on WIF price chart “very clean” and mentioned that the key level to watch is between $0.75 and $0.80. If WIF stays above that zone, the bullish case remains valid. Ansem also noted that other meme coins like Hype and Fartcoin were the first to move, and now WIF seems to be joining the wave.Accumulation Zone Provided a Launch Base For DogwifhatThe WIF chart shows a clear downtrend from a previous high near $3.00, followed by consolidation and accumulation over several weeks. This accumulation occurred within a defined range between $0.10 and $0.28, marked as a value area on the chart.The WIF price tested this area multiple times, forming a base that eventually supported a breakout. Traders often refer to such zones as demand areas where long-term holders accumulate positions before an uptrend begins.Source: X/AnsemDogwifhat Price Breakout From Key ResistanceWIF moved above previous horizontal resistance levels around $0.45 to $0.55. This level had capped upside movements for a prolonged period. The recent breakout above this zone has now flipped it into support, indicating a shift in market behavior.This structure typically suggests a reversal, as the price forms higher highs and higher lows. It reflects increasing buyer interest, aligning with the 20% daily gain today.Read Also: Injective (INJ) Price Could Be Gearing Up for a 300% Move – But First, This Has to HappenMoreover, the WIF price chart now shows a pattern consistent with a new trend formation. The breakout has created a clear path for upward movement, with price momentum currently favoring bulls. However, the $0.75 to $0.80 zone remains a key level to watch.According to Ansem, a drop below this range could invalidate the setup. Holding above it, however, keeps the rally on track and may open the way toward retesting earlier highs.Dogwifhat Wider Market ContextThe breakout in WIF follows similar moves in meme coins such as Hype and Fartcoin. Traders have started rotating into lower-cap tokens with similar chart structures, pushing prices higher across this sector.WIF price breakout may suggest the market is entering another meme coin phase, where lagging tokens follow the early movers. With current price strength and volume, WIF is now positioned as one of the tokens to monitor during this phase.Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Read our recent crypto market updates, news, and technical analysis here. We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. The post Can Dogwifhat Repeat Its Early 2024 Pump? Here’s Why WIF Price Could Hit $3 Soon appeared first on CaptainAltcoin.