WIF Remains Firm as Whales Accumulate Despite Choppy Market

Dogwifhat (WIF) is showing strong resilience even after posting minor losses today, thanks to significant whale buying that’s helping the token maintain crucial support levels amid continued market turbulence.

The token is currently valued around $0.8319, reflecting a 1.17% decline over the past 24 hours, according to technical analysis from CoinDesk Research. Meanwhile, the broader memecoin market, measured by the CoinDesk Memecoin Index (CDMEME), has risen by 1.79% in the same period.

During this time, WIF fluctuated within a 5.1% range, trading between $0.821 and $0.864. Solid buying activity emerged near $0.835, reinforcing it as a key support level backed by significant trading volume. Earlier in the week, WIF spiked to $0.92, leading to some profit-taking, yet technical signals still appear positive as the token consolidates above its recent support floor.

On-chain insights show whales have acquired more than 39 million WIF tokens, pointing to growing confidence despite broader shifts across Solana-based memecoins. This trend comes after BONK saw a sharp rally driven by ETF-related speculation, while WIF tests important technical areas amid lower trading volumes and fewer short liquidations.

Investor sentiment has slightly improved following Congress’ approval of President Trump’s “One Big Beautiful Bill” and stronger-than-expected U.S. job numbers, helping ease some macroeconomic headwinds for risk assets. Despite ongoing concerns around trade and monetary policy, WIF’s blockchain fundamentals remain solid.

At the same time, derivatives trading remains highly active, with Binance reporting an enormous $650 trillion in cumulative BTC futures volume. As institutional participation grows, retail investors are increasingly watching tokens like WIF, which has managed to stay relatively stable. Should WIF maintain its support levels and attract fresh trading interest, a climb back toward resistance near $0.86 could be on the horizon.

Technical Summary

• Over the 24 hours ending July 5 at 14:00 UTC, WIF traded between $0.821 and $0.864.
• A significant upward move from $0.835 to $0.861 occurred on elevated trading volume, confirming key support.
• Whales accumulated a total of 60.7 million WIF during a nine-hour span.
• In the session’s final hour (13:06–14:05 UTC), WIF rebounded from $0.828 to $0.831.
• Resistance formed around $0.838 as selling pressure intensified during 13:25–13:26 UTC.
• Brief support held at $0.828 following a sharp drop between 13:54 and 13:56 UTC.
• A modest recovery toward the session’s close suggests WIF may be settling into a short-term consolidation phase.

WIF’s continued ability to hold above critical support levels, coupled with persistent whale buying, indicates the token could see further gains if broader market conditions become more favorable.