- WIF is roaring back, up 62.83% in just a week.
- $1 isn’t just a dream anymore – it’s starting to feel inevitable.
dogwifhat [WIF] was looking like it might be headed for a Mantra [OM]-style disaster, dropping 95% to $0.20 from its $4.80 high. But just when it looked doomed, the bulls showed up swinging.
In just a week, WIF has bounced 62.83%, and the cavalry might not be done yet – around 3,000 fresh wallets have jumped in since the bottom.
Sure, RSI’s heating up and there’s 50%+ unrealized profits floating around, but the vibe’s still bullish. If anything, $1 might be closer than anyone dared to hope just days ago.
A surprise rally that’s no longer a surprise
WIF’s SOPR (Spent Output Profit Ratio) just shot above 1 – and if history’s any guide, that’s a neon-green signal. Holders who were deep underwater? They’re finally back in profit.
Source: Glassnode
Here psychology matters. When greed kicks in, new money chases momentum, while old holders resist the urge to cash out too soon. WIF’s current setup seems to be following that classic playbook.
Fresh addresses are piling in fast, and so far, there’s no panic from either short- or long-term holders. In other words: no signs of major profit-taking, yet.
That’s pretty wild for a memecoin, where “pump-and-dump” cycles are usually the norm. Does this make WIF an exception? Could we be seeing a FOMO-driven rally to $1?
$1 WIF: Closer than you think?
From where it stands, WIF would need to pump another 60%+ pump to reclaim $1. Yes, the SOPR is flashing green – but most holders are still sitting in the red, with only 15% of addresses currently in profit.
Meanwhile, Futures Open Interest has exploded by $44 million, meaning the crowd is loading up fast.
Source: Glassnode
Bottom line? WIF’s got all the ingredients for a full-blown FOMO rally, where the real fear isn’t selling – it’s missing out on the momentum.
Adding to the fire, the broader macro backdrop looks strong too. WIF isn’t flying solo — other memecoins like TURBO have skyrocketed, posting a 135% gain this week.
Sure, if the vibe across crypto sours, WIF could see a quick dip.
But judging by how aggressive the bulls are right now, any pullback would probably get eaten alive — keeping that shiny $1 target well within reach.