Remember that moment when everyone was calling the memecoin party over? Yeah, me too. I was staring at my screen watching dogwifhat bleed down to $0.31, wondering if the hat was finally coming off for good. Then, almost out of nowhere, the chart did something I honestly didn’t expect this soon.
It bounced. And not just any bounce – a proper, volume-screaming, “we’re not dead yet done here” kind of bounce.
A Reversal That Actually Means Something
Let me paint the picture for you. We’ve all seen fake-outs. A little green candle here, a tiny spike in volume there, and then – bam – right back into the gutter. This one felt different from the very first hour.
Price swept the $0.31 zone (an area that had acted as support multiple times before), and instead of rolling over like it did the previous two tests, buyers stepped in with real aggression. We’re talking the kind of volume that makes you sit up straight in your chair.
Within hours, WIF was already pushing back above the Point of Control (POC) – that magical price level where the most volume has traded in the visible range. When price reclaims the POC and then successfully backtests it as support? That’s textbook structural strength.
Why the Point of Control Matters More Than You Think
If you’re not familiar with volume profile, the POC is essentially the “fairest” price in the range – where the market participants have agreed value lies the most. Think of it as the center of gravity for price.
When price loses the POC, it usually means control has shifted. When it reclaims it convincingly? That’s often the first real sign that the tide is turning.
In my experience watching these Solana memecoins, a clean POC reclaim backed by rising volume has preceded almost every meaningful leg up in the last cycle. Bonk did it. PEPE did it. Even POPCAT flashed the same setup before its monster run.
The POC isn’t just another line on the chart – it’s where the smart money has been most active. Reclaiming it with volume is like taking the steering wheel back from the bears.
The Volume Story Nobody’s Talking About (But Should Be)
Here’s what really caught my eye: during the entire drop from $0.70-ish to $0.31, volume was steadily declining. Classic distribution pattern – sellers getting exhausted, but no real buyers showing up yet.
Then this bounce happened and volume literally exploded on the way up. Not just a little spike – we’re talking multiples of the average daily volume over the past week.
That kind of volume divergence at a major support level? It’s one of the highest-probability setups I know for continuation.
- Declining volume on the way down ✓
- Major support holds ✓
- Volume explodes on the reversal candle ✓
- POC reclaimed and backtested ✓
When you get all four of those lining up, you pay attention.
The Road to $0.48 – What Needs to Happen
Look, I’m not here to promise you $0.48 tomorrow. But the path is definitely clearer than it was 48 hours ago.
The $0.48 level isn’t random – it’s the previous range high and where sellers previously showed up in force. It’s also roughly where the next major volume node sits on the higher timeframe profile.
For WIF to reach there with conviction, we need to see:
Continued volume support on any pullbacks
Successful defense of the reclaimed POC (currently around $0.38-0.39)
Ideally some consolidation that builds a higher low before the next leg
If we get that, $0.48 becomes very realistic. Break that cleanly? Then we’re suddenly looking at the $0.60+ region that rejected us hard last time.
What Could Kill This Move?
Transparency time – this could absolutely still fail.
The biggest risk right now is if we lose the POC again on declining volume. That would suggest this was just a bull trap and we’d likely see new lows.
Another risk is Bitcoin. If BTC decides to have one of its classic 10% weekend dumps, everything gets dragged down regardless of how pretty WIF’s chart looks.
But here’s the thing – even if we do pull back, as long as $0.31 holds as support, the higher low structure remains intact. That’s the beauty of this setup.
Why This Feels Different From Previous Bounces
I’ve watched probably a dozen “dead cat bounces” in memecoins this cycle. Most of them had weak volume, failed to reclaim any meaningful structure, and rolled over within days.
This one has actual institutional-looking volume prints. The kind of size that makes you wonder if some bigger players are starting to accumulate.
Perhaps the most interesting aspect? The bounce started exactly when sentiment was at rock bottom. That’s usually when the smartest moves happen.
Look, I’m not saying buy the top or anything stupid. But this is exactly the kind of setup that has made people ridiculous money in previous cycles when everyone else was scared.
The hat might not be coming off just yet. In fact, it might be about to get a whole lot more expensive.
The next few days will tell us everything. But for the first time in weeks, I’m genuinely excited about a memecoin chart again.
And honestly? That feeling alone is probably the best indicator we have.
