WIF Holds Key Support as Whales Accumulate Over 39M Tokens

Dogwifhat (WIF) continues to gully attraction amid volatile marketplace conditions, with the token consolidating astir $0.8319 aft dipping 1.17% implicit the past 24 hours, according to CoinDesk Research's method investigation model. As for the broader memecoin assemblage arsenic gauged by the CoinDesk Memecoin Index(CDMEME), it is up 1.79% during the aforesaid period.

Price enactment formed a 5.1% scope from $0.821 to $0.864, with captious enactment confirmed adjacent $0.835 connected important volume. A crisp rally earlier this week to $0.92 drew profit-taking, but method spot remains arsenic WIF holds supra its caller section floor.

Blockchain analytics amusement whale wallets person accumulated much than 39 cardinal tokens, a signifier that aligns with broader memecoin rotation underway crossed Solana-based assets. This inclination comes arsenic BONK surged earlier connected ETF speculation, portion WIF retests cardinal zones with declining measurement and less abbreviated liquidations.

The transition of President Trump’s “One Big Beautiful Bill” by Congress earlier this week brought short-term calm to hazard markets. Combined with better-than-expected U.S. jobs data, sentiment astir hazard assets improved marginally, reducing macro-related selling pressure. Even arsenic broader crypto faces headwinds from shifting commercialized and monetary argumentation dynamics, WIF's on-chain fundamentals stay constructive.

With derivatives markets booming — Binance has present facilitated $650 trillion successful cumulative BTC futures measurement — attraction is turning to retail-driven tokens that proceed to amusement resilience. If WIF maintains enactment and measurement rebounds, a retest of $0.86 whitethorn beryllium successful play.

Technical Analysis Highlights

• WIF traded betwixt $0.821 and $0.864 implicit the 24-hour model ending July 5 astatine 14:00 UTC.
• High-volume bounce from $0.835 to $0.861 confirmed beardown enactment level.
• Whale accumulation spiked during a 60.7M token measurement surge implicit a 9-hour session.
• In the last hr (13:06–14:05 UTC), WIF rebounded from $0.828 to $0.831.
• Resistance formed astatine $0.838 with dense merchantability unit astatine 13:25–13:26.
• Temporary enactment held astatine $0.828 aft crisp sell-off betwixt 13:54–13:56.
• Modest late-session betterment hints astatine short-term consolidation range.

Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.