The Solana meme coin season could be getting an early push from Dogwifhat (WIF) as an analyst outlines a potential recovery from prolonged downside pressure. Market technician John Carter has thrown his full weight behind WIF, laying out a technical case for a massive 750% price rally that could surpass what most traders are expecting from the dog-themed meme coin. The analyst’s forecast arrives as meme coins begin to climb again, signaling a return of momentum and renewed speculative interest in the cryptocurrency. Analyst Maps Key Levels For A 750% WIF Rally In an X post published on Monday, Carter points to a developing structure on Dogwifhat’s two-day chart that could position the WIF price for a potential 750% upside move from current levels. The chart reveals a clearly defined descending channel that stretches back to mid-2024, steering price action lower over the past several months. Within this channel pattern, WIF has repeatedly formed lower highs and lower lows, underscoring former bearish trends and relentless selling pressure . However, recent price movement shows the meme coin testing the lower boundary of this channel, which currently sits at a critical support zone between $0.170 and $0.185. Carter has stated that WIF’s behavior around this key support band hints at potential accumulation, which could be seen as strategic positioning by larger market players ahead of a perceived opportunity. Supporting this view, volume trends at the bottom of the chart indicate steady activity throughout WIF’s recent consolidation phase. If the support zone between $0.170 and $0.185 holds, Carter forecasts a staged recovery for Dogwifhat through key levels within the descending channel. He marked the first upside target at $0.27, followed by $0.36 and $0.48. Should momentum continue, the analyst projects that WIF could push toward higher resistance zones at $0.70, $0.85, and $1.03. The upper boundary of the channel near $1.35 also represents a major long-term resistance level. Based on the trajectory of his outlook, a full move from WIF’s current price levels around $0.188 to this final resistance could deliver a potential rally of roughly 750%. Carter has marked this top resistance level as a potential sell zone where holders can take profit . Dogwifhat Sees Major Recovery With 15% Upside The latest report from CoinMarketCap shows that the WIF price is rebounding from lower levels and now seems to be in a major recovery mode. Over the past seven days, Dogwifhat has surged by more than 15%, modestly outperforming the broader bear market . This price increase has been largely attributed to improved sentiment toward higher-risk altcoins . The price rally also comes after months of downside pressure, with WIF recording a year-to-date decline of roughly 60%, according to CMC. Alongside Dogwifhat, other popular meme coins such as Shiba Inu and Dogecoin appear to be in a similar recovery phase, with DOGE and SHIB prices up by over 7%.
