Dogwifhat continues to wow investors – it’s booked a 34% gain this week.
But with the broader crypto market gathering pace, how much further can it go? Let’s find out.
WIF Primed to 2x as a Solana Beta Play
Dogwifhat has a high chance of success.
Positioned as the leading meme coin on Solana, it is a magnet for new liquidity.
Ecosystem newcomers and whales will both choose WIF over its lower market cap alternatives.
WIF is an easy go-to for newcomers, requiring little upfront research. And for whales, WIF has the highest liquidity, which means they can take big position sizes with minimal price impact.
What this essentially means is that WIF becomes a proxy for SOL. We can see this on multiple time frames.
SOL is up 5% this week, WIF is up 33%. SOL is up 11% this month, WIF is up 49%.
Meanwhile, SOL is 30% from its 2024 high, while WIF is 52% from its.
In periods where SOL performs well, WIF tends to perform better. However, the opposite is also true.
With that, we must strongly account for SOL’s performance in our WIF price prediction.
And according to analyst Tendo, SOL is preparing for gains.
The analyst notes that SOL is accumulating in a macro zone above its previous range high, dubbing it “one of the best accumulations” that he has ever seen.
Meanwhile, $100 billion asset manager VanEck says Solana will reach $330 and 50% of Ethereum’s market cap this cycle, citing its superior speed and transaction processing metrics.
So what does this mean for Dogwifhat?
As mentioned, a lot of capital inflows into the Solana ecosystem will be directed to WIF. This is thanks to its beta exposure to the SOL price, coupled with its high liquidity and accessibility.
Analysts are pointing toward significant gains. For example, Davie Satoshi anticipates a move toward $6 by the end of 2025. This marks almost a 3x gain from its current price.
He notes that WIF has just broken above a trendline resistance level, indicating a shift into bullish momentum.
Meanwhile, Shelby is looking toward a similar target, eyeing $4.9 in the coming weeks.
The analyst notes that WIF has reclaimed an important level and expects a trend continuation ahead.
Considering the bullish expectations of SOL and WIF’s position as a SOL beta play, we expect significant inflows throughout the rest of 2024.
Davie Satoshi’s $6 target seems optimistic but reasonable. It would place WIF close to Pepe’s current market cap. And of course, it’s expected that Pepe will also rise throughout that period.
Dogwifhat’s future looks promising. This is mainly due to the swelling adoption of Solana, thanks to its low fees and high speeds.
There’s a growing phenomenon in the crypto space: people are moving away from Ethereum in search of a better user experience.
This brings us to another meme coin causing a lot of buzz: Pepe Unchained.
It’s a Pepe-themed token with its own blockchain, and it’s currently undergoing a presale. Let’s take a closer look.
Pepe Unchained Presale Raises $16.2M – Is This the Best Meme Coin to Buy Now?
Dogwifhat is almost a year old now, and it has risen over 1,200% in that time. At its peak, it was even up a lot more.
This reflects the benefit of investing in meme coins early on and shows why many traders are buying Pepe Unchained.
However, Pepe Unchained is not your average meme coin. It’s a meme coin with its own blockchain.
The team is developing an Ethereum layer 2 network. This means it’s a separate blockchain built on top of Ethereum, enabling users to access it with their Ethereum wallet.
But like Solana, Pepe Unchained will deliver lower fees and faster speeds. Per its website, transacting on the ‘Pepe Chain’ will be 100x faster than on the Ethereum main network.
And we should also mention the meteoric success of Pepe this year, significantly outperforming Dogwifhat and other large meme coins.
But imagine Pepe with its own blockchain. That’s Pepe Unchained.
It’s no surprise they’ve already raised $16 million – the project blends contagious memetics with problem-solving utility.
Umar Khan predicts it has 100x potential – this would inherently make it one of the biggest meme coins.
It’s a bold statement, considering the competitiveness of the market.
But if anything was going to outperform, it’d be Pepe with his own blockchain.
