dogwifhat [WIF] led all dog-themed memecoins in the top 100 cryptos by market cap in gains on the second consecutive day of bullish sentiment.
WIF recorded gains of over 16%, with daily volume increasing by 67% to over $86 million. It also topped the list for top gainers on Binance’s spot market for USDT pairs. Only Pepe [PEPE] came close among memecoins.
Why WIF leads dog-themed memecoins by daily gains
Considering other dog-themed memes, WIF was followed by Floki [FLOKI], Bonk [BONK], and Dogecoin [DOGE]. Only Shiba Inu [SHIB] failed to record double-digit gains on the day.
Both Spot and Futures whales were buying the token but at different magnitudes. The average order size, as per CryptoQuant, showed that big players dominated trading activity.
That resulted in trading volume increasing. As per the Spot Volume Bubble Map, activity was overheating after staying neutral for the whole of 2026. This reading clearly showed that traders’ interest had returned to the meme.
Source: CryptoQuantDespite its strength today compared to other dog-themed memecoins, can WIF sustain this lead?
WIF bulls face a KEY test at the $0.18 zone—what’s coming?
WIF was similarly positive on the charts. The price action had flipped all SMAs in the Ma Ribbon except the 200-day one.
The 20-day, 50-day, and 100-day SMAs at $0.1424, $0.1496, and $0.1621, respectively, had been turned into support. However, the 200-day SMA at the $0.1802 zone doubled as a hurdle against a long-term uptrend.
To reinforce this shifting market structure, WIF had cleared a descending trendline resistance. This trendline ran from $0.2397 to $0.1383.
Source: WIF/USDT on TradingViewOnce WIF flips the 200-day SMA into support, it puts the $0.28-$0.30 price range into focus. The RSI reading of 73 shows that aggressive buying activity characterizes the uptrend.
On the other hand, the RSI’s overbought conditions could trigger a pause to the rally as traders tend to take profits. However, the meme was not at risk from this immediate selling pressure. Why?
The Spent Output Profit Ratio (SOPR) was at 0.957, below the 1 mark. This meant that the price was below the average buying price for WIF holders; thus, most traders were still in losses.
As such, it mitigates immediate selling pressure, as these traders are unlikely to sell at a loss. Still, that is not enough, as some traders might decide to cut losses from the two-day recovery rally.
Final Summary
- dogwifhat rallies over 16%, leading all dog-themed memecoins like FLOKI, BONK, and DOGE in daily gains.
- WIF bulls turned multiple levels into support, but the true test for turning its price action bullish was at $0.18.
