Dogwifhat (WIF) Explodes 30% After Massive Buy: Bullish Pattern Targets $2.30

WIF Breaks Out, Eyes Key Resistance

Holy smokes, Dogwifhat (WIF) just rocketed 12% yesterday, smashing through an ascending channel like it was nothing and hitting a fresh high of $1.30. Sure, it's pulled back a bit to $1.22, but guess what? It's still hanging tough above that channel's upper trendline, refusing to give up the gains.

Cup-and-Handle Pattern Nears Completion

Get this - that breakout has WIF on the verge of nailing a classic cup-and-handle pattern, with the rim resistance chilling at around $1.32. We're talking just 7.5% away from a potential breakout above this critical level. If WIF can muscle its way past that resistance, buckle up because it could be off to the races, targeting a jaw-dropping $2.30 based on the pattern's measured move.

Support and Potential Pullback

Now, if things go south, the ascending channel's upper boundary near $1.20 is where WIF needs to hold its ground. Lose that, and the bullish setup goes out the window, setting the stage for a nasty pullback down to $1.10 or even a gut-wrenching dip to $1.00, right where the channel's lower trendline is camped out.

Bithumb Listing Sparks Reversal

Remember that June 10 Bithumb listing? Yeah, one of South Korea's biggest crypto exchanges threw WIF a lifeline when it was still in the dumps. That move might've been the spark that ignited the epic comeback we're seeing now, fueling the ongoing uptrend like a rocket strapped to a rollercoaster.

WIFStrategy's Massive Buy Triggers Rally

Hold onto your hats, folks, because on July 13, WIFStrategy, the digital asset firm that's all-in on Dogwifhat, dropped a bombshell by snagging a whopping 500,000 WIF tokens. That buy was like throwing gasoline on a fire, sending the price skyrocketing 30% from the July 13 opening all the way to that $1.30 peak we saw yesterday.

WifStrategy has acquired 500,000 $WIF