WIF Price Slips Toward $0.70 as Wyckoff Pattern Points to More Losses

The token trades near $0.74 after a 7.65% drop, struggling below $0.81 resistance. Analysts warn that failure to hold $0.72–$0.74 support could extend losses toward $0.66, confirming bearish continuation.

Wyckoff Distribution Suggests Downtrend Continuation

According to analyst, ye.koi, Dogwifhat (WIF/USDT) appears to be moving within a Wyckoff distribution structure, signaling that the token may be shifting from an accumulation phase into a markdown cycle.

The chart shows key technical points—Buying Climax (BC), Secondary Test (ST), and potential Upthrust (UTAD)—with repeated rejection near $1.03–$1.35. This area has acted as a supply zone where selling pressure has repeatedly halted upward movement.

Source:X

The analyst noted that the current trading range between $0.73 and $0.81 could represent the Last Point of Supply (LPSY) — a critical phase in the Wyckoff model that often precedes a larger downward leg. Repeated rejections from this zone, coupled with weakening momentum, suggest that sellers continue to dominate. If confirmed, the asset could drop to $0.69–$0.66, matching the Wyckoff “Phase D” markdown stage.

Volume Weakness Confirms Selling Pressure

Volume data on the chart indicates weakening demand during recovery attempts and rising activity during declines. This pattern reflects a decline in buyer participation, while sellers continue to exert pressure. The analyst emphasized that unless bulls reclaim the $0.81 resistance with strong buying interest, the broader downtrend is likely to continue.

If Dogwifhat loses the $0.73–$0.74 support, the next key level lies near $0.53, a prior consolidation base. The Wyckoff distribution’s structure suggests that the token may continue forming lower highs before a potential breakdown, consistent with broader bearish momentum across altcoin markets.

Market Divergence Between Crypto Equities and Meme Tokens

Analyst Chris compared Dogwifhat with Galaxy Digital (GLXY) to illustrate the diverging performance between crypto equities and meme-based altcoins. Galaxy Digital’s stock price rose 8% to $42, supported by strong institutional inflows and growing investor confidence in regulated crypto firms. The surge in crypto-related equities indicates increased preference among investors for structured exposure through publicly traded entities, which are perceived as lower-risk alternatives to volatile digital tokens.

In contrast, WIF declined 4.58% to $0.766, extending its weekly weakness. Market data shows that sentiment toward speculative meme tokens has cooled amid increased capital rotation toward large-cap and regulated assets. This divergence reflects how institutional investors are allocating capital toward compliance-driven firms like Galaxy Digital, leaving retail-oriented tokens such as WIF more vulnerable to volatility and sharp price swings.

Short-Term Price Outlook and Key Levels

Dogwifhat has fallen 7.65% in the past 24 hours, now trading near $0.74 with a market capitalization of $740.6 million. The 24-hour trading volume stands at $261.2 million, showing continued participation despite declining prices. Intraday data between October 7 and 8, 2025, reveals that the asset opened near $0.78 before retreating to $0.72, followed by a minor recovery later in the session.

Source: BraveNewCoin

The short-term structure shows heightened volatility, particularly in the early trading hours when strong selling pressure pushed the token below its 20-hour moving average. During the later part of the session, the price stabilized, forming a narrow consolidation zone around $0.74.

If the token holds above the $0.72–$0.74 support area, it could form a short-term base for recovery. However, a failure to maintain this level could accelerate losses toward $0.70, confirming further downside potential consistent with the ongoing Wyckoff markdown phase.