Dogwifhat (WIF) could be the spark that revives Solana’s meme-coin season, according to market technician John Carter, who has laid out a bullish technical case for a dramatic rebound.
Carter — in an X post on Monday — points to a two-day chart structure that, if it plays out, could lift WIF roughly 750% from current levels. The setup centers on a clearly defined descending channel that has guided WIF lower since mid-2024. That channel shows the familiar pattern of lower highs and lower lows, but recent price action has brought the token back to the channel’s lower boundary, a support band between $0.170 and $0.185.
Why it matters: Carter says WIF’s behavior around that $0.170–$0.185 zone looks like accumulation — potentially large players buying at perceived value — and volume at the bottom of the chart has remained steady through the consolidation. If that support holds, Carter outlines a staged recovery through several intra-channel resistance levels:
- First targets: $0.27, $0.36, $0.48
- Higher resistance zones: $0.70, $0.85, $1.03
- Major long-term resistance / channel top: ~ $1.35
From today’s price, around $0.188, a run to the channel top near $1.35 would imply a roughly 750% gain — a level Carter has flagged as a possible take-profit zone.
Market context: CoinMarketCap data show WIF has rebounded in the past week, climbing more than 15% and modestly outpacing the wider bear market, though the token remains down roughly 60% year-to-date. The broader meme-coin cohort is also stirring: Dogecoin and Shiba Inu are each up over 7% in the same period, reflecting renewed appetite for higher-risk altcoins.
Bottom line: Carter’s scenario offers a clear technical roadmap for a significant WIF rally, but it remains a forecast based on chart structure and volume signals — not a guarantee. As with all meme coins, volatility and downside risk are high, and traders should weigh those factors before acting.
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