Dogwifhat Price Analysis Hints $3 Rally As Bullish Pattern Outshines Whale Sell-off.

Dogwifhat Price Analysis: WIF shows resilience above $1.47 support amid market correction, rebounding 31.8% to $1.95. A potential double bottom pattern suggests a further rise to $2.36, followed by $3.

Dogwifhat Price Analysis: The first week of July has been notably bearish for a majority of major cryptocurrencies. The Bitcoin price recently corrected to $53,500, driven by liquidations from the Mt. Gox Exchange as well as the U.S. and German governments, which have extended the market correction. However, defying the supply pressure, the WIF price stood firmly above $1.47 developing a bullish reversal pattern.

Dogwifhat Price Analysis: Why $3 Barrier Critical for Trend Reversal.

Despite the recent market correction, the Solana-based memecoin Dogwifhat showed notable resilience above $1.47 support. The WIF price rebounded twice from the horizontal support within three weeks indicating the buyers aggressively defended this floor.

This $1.47 held strong amid a recent sell-off from a crypto whale as reported by on-chain data tracker Lookonchain. During the mid-week, a whale deposited 900,000 WIF, valued at approximately $1.64 million, to the Bybit exchange.

Following this transfer, the whale's remaining balance stands at 974,000 WIF, worth around $1.76 million. Such Large transfers suggest this major investor is looking to reduce its exposure in Dogwifhat coin, possibly due to a lack of anticipation for significant price movements in the near future.

However, the latest reversal from $1.47 support has uplifted the WIF price 31.8% within two days to trade at $1.95 while the market cap surged to $1.94 Billion. A look at the 4-hour chart shows the recovery developing into a double bottom— a well-known reversal pattern often spotted at the market bottom.

Following this pattern, the WIF price

could rise another 21% and challenge

the $2.36. A potential breach from this

resistance will provide buyers with suitable support to chase the $3 mark.