This cycle\u2019s dog-themed sensation, Dogwifhat (WIF), has become the leading memecoin amid the market\u2019s recovery. The token saw a 12% surge in the early hours of Tuesday, propelling the price above the $1.6 mark. As the memecoin tries to reclaim key support levels, some crypto analysts forecasted WIF\u2019s next targets.<\/p>\n
Dogwifhat (WIF) became the market sensation in Q1 after leading the memecoin frenzy<\/a>. The token surged to its all-time high (ATH) of $4.83 at the end of March, pushed by the market sentiment and its growing community.<\/p>\n During its 2,000% growth phase, WIF saw many crypto investors put their hats on, which prompted a massive fundraising campaign to display the memecoin in the Las Vegas Sphere. However, the market fluctuations have driven the token\u2019s price to a decline of over 66% from its ATH.<\/p>\n The August retraces made WIF\u2019s price drop 28% to a 6-month low of $1.1 before starting its recovery. Since then, it has reclaimed its early August levels, registering a 1% increase from its price one month ago.<\/p>\n Following the weekend retrace, Dogwifhat saw a price surge of over 12%, reclaiming the $1.5 support zone again. This performance crowned<\/a> the memecoin as the third largest gainer in the top 100 cryptocurrencies by market capitalization.<\/p>\n Moreover, WIF became the top 10 memecoin with the largest gains in the last 24 hours, followed by Popcat<\/a> (POPCAT) and Floki (FLOKI)\u2019s 9.2% and 7.6% jump.<\/p>\n As Dogwifhat\u2019s price began to surge on Monday, several market watchers noted that reclaiming the $1.51 support level could push the token\u2019s price to higher levels. To Ameba, a successful breakout<\/a> above the downtrend line would drive WIF\u2019s price to a retest of the next key area of $1.84.<\/p>\n The analysts suggested the push could also propel the price to the $2.2 price range. Similarly, The Cryptonomist concurred that a strong breakout above $1.5 could see a reclaim of the same resistance level.<\/p>\n Crypto trader Bluntz emphasized Dogwifhat\u2019s performance as the token retested the $1.6 resistance level on Monday night. To the trader, the cryptocurrency did a \u201cperfect channel retest.\u201d<\/p>\n Bluntz highlighted the a,b,c zig-zag pattern in the token\u2019s chart, suggesting that the price could jump to $2.4 as it bounces from the c wave levels. Previously, the trader predicted that WIF\u2019s chart suggested a retrace to the $1 support zone before its next leg up.<\/p>\nWIF Price Targets $2.2<\/h2>\n