Dogwifhat Analysis: Key Levels to Watch in the Market

• Dogwifhat shows strong market potential following a Coinbase listing and key technical breakout on the Solana network.
• A whale’s significant WIF withdrawal hints at strategic moves, driving investor speculation in the meme coin market.

One of the best memes available in the Solana ecosystem, Dogwifhat has attracted notice for its distinctive branding—a basic but appealing idea of putting a hat on a dog.

Renowned crypto analyst Lark Davis said that this meme coin has breakout notable downtrend resistance and is currently under challenge to achieve new all-time highs (ATHs). Davis adds that the new Dogwifhat (WIF) listing on Coinbase has been a main trigger for significant price swings.

Dogwifhat: Critical Levels and Potential Price Projections

Davis revealed his personal participation with the coin by stating he joined the market at $2 during a retest of important support levels. The price of the token has surged close to its all-time high of $4.90, but a reversal was set off at this level of resistance.

Source: Lark Davis

Now WIF has gone back to the $3.60-$3.70 zone, a zone of notable historical resistance that might turn into support. Davis underlined the significance of this level of holding and advised that failing might cause a further drop towards $3—a vital line in the sand for the future price movement of the meme coin.

Source: Lark Davis

Looking ahead, Davis spoke on hopeful WIF price projections backed by Fibonacci extensions. With objectives ranging from $7.30 to $11.30, even $15, he expects breaching beyond $4.90 to open the path for possible gains.

Davis acknowledged the inherent volatility and dangers of trading meme coins, but he also pointed to the 1,200% rise in Shiba Inu following its Coinbase debut as proof that, given the right market conditions, considerable upside is likely.

Beside that, CNF previously reported that a whale withdrew WIF valued at $15.87 million from Binance, implying possible calculated market moves. Meanwhile, as of writing, WIF is swapped hands at about $3.76, a 5.10% increase over the last 24 hours and an astounding 56.60% increase over the last 7 days.