Every dog has its day, and today looks like Dogwifhat’s day. The popular meme coin was for many months the biggest meme coin on Solana, but it fell to the #3 spot as competitor Bonk rallied and the Official Trump token surged.
Now, $WIF looks like it’s turning things around. The token is now up 56% over the past 7 days and trading at $0.6325, a level it last saw in early March.
Still, it’s far cry from $WIF’s all-time high of $4.85 set in March 2024. So can this meme coin run higher and regain its glory?
Analysts Predict $WIF Could Pump Past $1 as Momentum Grows
Dogwifhat’s bullish momentum has attracted attention from crypto analysts, many of whom have been waiting for a strong reversal to happen.
Now, bullish price predictions are flying in amid expectations that the token could push higher. While a push to a new all-time high isn’t in the picture yet, several analysts think that $WIF could make a move to its next macro-level resistance area.
For example, Solberg Invest looked at a weekly chart of the $WIF price to identify $1.1 and $1.7 as potential resistance bands. He predicted a price target in this range, but suggested that $WIF could pump sharply higher if it’s able to break through the $1.7 resistance area.
Similarly, Thomas Reid used trendline analysis to predict a price target at $1, with a potential maximum push up to $2 within the coming weeks.
The widespread sentiment on Crypto X is that this could be a make-or-break moment for $WIF. The token has been badly beaten down in the past few months, but if it can show strength now, it could pave the way for $WIF to follow in the footsteps of tokens like $PEPE that have remained relevant through hard times.
Solana Meme Coin Trading Offers an Opening for Investors
The explosion in trading around $WIF—as well as other major Solana meme coins like $TRUMP, $BONK, $SPX, and $POPCAT—has created a potential opportunity for investors who aren’t ready to jump into these meme coins themselves.
The increased volume has increased demand for $SOL, the native gas token of the Solana blockchain. Solana is up 13% in the past 7 days, outpacing gains in Bitcoin.
$SOL is likely to continue gaining value as meme coin trading on the Solana blockchain continues since meme traders need to hold $SOL to pay gas fees. However, meme coin traders may soon have another option.
Solaxy ($SOLX) is preparing to launch the first-ever Layer-2 scaling solution for the Solana ecosystem and it could make meme coin trading faster and cheaper. That would mean a mass migration of trading activity from the Solana mainnet to the Solaxy Layer-2, shifting demand from $SOL to $SOLX—the Layer-2 network’s new gas token.
In fact, analysts looking at Solaxy have predicted its $SOLX token could see an explosion in demand. Jacob Bury, an analyst who specializes in identifying emerging tokens, especially in the meme coin space, suggested that Solaxy’s value could soon jump by 10x or more.
This is a huge potential opportunity for investors because the $SOLX token isn’t yet trading on exchanges. Instead, it’s available to buy exclusively through the Solaxy presale, which has raised an eye-popping $31 million. It’s one of the biggest crypto ICOs of the year, and investors still have time to join before $SOLX starts trading.
However, that opportunity may not last much longer. Solaxy just launched its testnet, and a bridge between Ethereum and Solana is coming soon. The presale could be nearing its final stages, so there’s no time to waste to get your hands on $SOLX and be a part of the Solana meme coin boom.