Date: Tue, June 03, 2025 | 07:10 PM GMT
The cryptocurrency market has rebounded from last week’s brief pullback, with Ethereum (ETH) leading the recovery after climbing over 3% today. ETH has reclaimed the $2,600 mark after dropping to a low of $2,471 on Sunday — a move that appears to be lifting the broader memecoins market along with it.
Among the notable gainers is Solana-based Dogwifhat (WIF), which has surged by more than 16% in the past 24 hours, narrowing its weekly decline to just 10%. More importantly, the chart is beginning to reveal something promising — a powerful structure that may signal a fresh wave of upside for WIF.
Power of 3 Pattern in Play
Zooming into the 4-hour chart, WIF has printed what appears to be a classic “Power of 3” setup — a market structure favored by smart money traders. It involves three key phases: accumulation, manipulation, and expansion.
Accumulation Phase: From May 12 to May 30, WIF consolidated tightly between $0.93 and $1.32. This sideways action often indicates institutional players quietly entering positions without drawing attention.
Manipulation Phase: On May 31, WIF briefly broke down from this range, dipping to $0.7910. This sharp move likely triggered stop-losses and caused retail panic — a classic “fake-out” designed to shake out weak hands before the real move begins.
Expansion Phase: Immediately after the dip, WIF rebounded strongly, reclaiming the $0.93 level. It’s now retesting the upper boundary of the previous range near $1.32 — suggesting the start of the expansion phase, where price tends to trend rapidly.
What’s Next for WIF?
If WIF can cleanly break and close above the $1.32 resistance, the Power of 3 pattern would be confirmed. From a technical standpoint, this sets the stage for a move towards $1.85 — an 83% rally from the breakout level.
This target isn’t random; it aligns with the green projection zone marked on the chart. It represents an area where early participants and smart money may look to exit or scale out of positions.
Final Thoughts
WIF’s recent price action, when combined with a broader market rebound and classic smart money pattern, paints a bullish picture. While crypto remains volatile and no move is ever guaranteed, the setup currently unfolding on WIF’s chart could be the foundation for its next leg higher.
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