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Dogwifhat (WIF) To Bounce Back? This Bullish Fractal Setup Suggests It Could Be!

Dogwifhat (WIF) To Bounce Back? This Bullish Fractal Setup Suggests It Could Be!

CoinsProbeCoinsProbe2025/07/29 21:05
By:Nilesh Hembade

Date: Tue, July 29, 2025 | 07:27 AM GMT

The cryptocurrency market is experiencing a mild pullback after Ethereum (ETH) tested its multi-year resistance near $3,940 before slipping back to $3,840. This dip has put pressure on major memecoins, with Dogwifhat (WIF) sliding 6% today, reducing its monthly rally to 29%.

Despite the decline, WIF is showing signs of a potentially bullish setup, with a fractal pattern emerging that closely mirrors the explosive breakout structure recently seen in PENGU.

Dogwifhat (WIF) To Bounce Back? This Bullish Fractal Setup Suggests It Could Be! image 0 Source: Coinmarketcap

WIF Mirrors PENGU’s Breakout Setup

A side-by-side look at WIF and PENGU’s daily charts reveals a strikingly similar trajectory.

PENGU, after carving out a falling wedge — a classic bullish reversal pattern — reclaimed its 50-day and 100-day moving averages. These levels acted as a launchpad, enabling PENGU to consolidate between key support and resistance (red and blue zones) before igniting a massive 171% multi-leg rally.

Dogwifhat (WIF) To Bounce Back? This Bullish Fractal Setup Suggests It Could Be! image 1 PENGU and WIF Fractal Chart/Coinsprobe (Source: Tradingview)

Now, WIF appears to be tracing the same pattern.

Like PENGU, WIF has broken free from its falling wedge and reclaimed both its 50-day and 100-day moving averages. The token is now consolidating within the red resistance zone, just above key MA support — the same area where PENGU built momentum before its explosive upside move.

What’s Next for WIF?

If this fractal holds, a bounce from current levels and a breakout above the red resistance zone could fuel WIF’s next upward leg, potentially targeting $2.00 — a gain of roughly 90% from current levels.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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