WIF Defends Major Support Zone Amid Whale Buying of Over 39 Million Tokens

WIF Stays Resilient as Whales Continue to Accumulate Despite Market Fluctuations

Dogwifhat (WIF) is holding its ground, despite modest declines today, as significant whale buying activity underpins support for the token amid ongoing market volatility.

Currently trading around $0.8319, WIF has dipped 1.17% over the last 24 hours, according to technical data from CoinDesk Research. In contrast, the broader memecoin sector, tracked by the CoinDesk Memecoin Index (CDMEME), posted a 1.79% gain during the same timeframe.

Over this period, WIF traded in a 5.1% band, moving between $0.821 and $0.864. Robust buying interest emerged around the $0.835 level, establishing it as a key support area on strong trading volumes. Earlier this week, WIF surged to $0.92, triggering profit-taking, but technical indicators remain favorable as the coin consolidates above its new support zone.

Blockchain data reveals that whale wallets have acquired more than 39 million WIF tokens, a sign of continued confidence amid broader shifts among Solana-based memecoins. This accumulation trend follows BONK’s recent spike, which was driven by speculation surrounding ETFs, while WIF continues to test important price levels amid lower trading volumes and fewer liquidations of short positions.

Market sentiment has seen some relief thanks to Congress passing President Trump’s “One Big Beautiful Bill” earlier this week, alongside unexpectedly strong U.S. employment figures. These factors have helped ease macroeconomic pressures on risk assets like cryptocurrencies. Despite ongoing challenges tied to global trade dynamics and monetary policies, WIF’s on-chain fundamentals remain positive.

Meanwhile, derivatives trading remains highly active, with Binance reporting a staggering cumulative $650 trillion in BTC futures trading volume. As institutional interest grows, retail traders are increasingly eyeing tokens like WIF, which has shown resilience. If WIF can continue to hold its support levels and attract renewed buying activity, a push back toward resistance around $0.86 could be in sight.

Technical Breakdown

  • In the 24-hour period ending July 5 at 14:00 UTC, WIF ranged between $0.821 and $0.864.
  • A strong rally from $0.835 to $0.861 occurred amid elevated trading volumes, reinforcing support levels.
  • Whale accumulation intensified over a nine-hour span, totaling 60.7 million tokens.
  • During the final trading hour (13:06–14:05 UTC), WIF rose from $0.828 to $0.831.
  • Resistance appeared at $0.838 as sell pressure mounted around 13:25–13:26 UTC.
  • Temporary support held at $0.828 following a sharp dip between 13:54 and 13:56 UTC.
  • A modest recovery in the late session suggests WIF may be preparing for short-term consolidation.

WIF’s ability to maintain its support zone and attract whale interest suggests the token could see further gains if broader market conditions continue to stabilize.

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