Breaking down dogwifhat’s 13% surge – Can WIF flip $1?

Key Points

1. dogwifhat (WIF) rallied 13.69%, reaching a monthly high of $0.982 before retracing to $0.968, with its market cap rising 14.2% to $978 million.

2. Trading volume spiked by 105% to $500 million, indicating increased capital flow into the memecoin.

3. WIF recorded a positive Buy-Sell Delta of 2.27, with $91.79 million in Buy volume compared to $89.52 million in Sell volume.

4. Futures data showed a reversal to positive funding rates (0.005), signaling bullish sentiment, but Exchange Netflow spiked to $2.73 million, suggesting profit-taking.

5. MACD climbed to 0.016, indicating strong bullish momentum, but a pullback toward $0.84 may occur if profit-taking intensifies.