Dogwifhat is positioned at the forefront of crypto’s top gainers, caused by a surge in trading volume over the past 24 hours.
It’s currently trading at an 8% premium day-on-day, priced at $1.9. Will this rally continue?
WIF Set For Gains As Solana Ecosystem Shows Strength
Crypto’s rising tide is lifting many projects today, but traders are reentering Solana meme coins with haste.
After months of bearish momentum, the crypto market may be at the foot of its next bull rally.
Since the Federal Reserve cut U.S. interest rates one week ago crypto’s total market cap has jumped almost 10%. Yet, the market continues to gain pace with a 0.5% uptick today.
However, the Solana meme coin domain is showing notable strength, with a whopping 9.9% rally.
This is good news for Dogwifhat, considering it’s the ecosystem’s most valuable meme coin. Traders will likely allocate the highest exposure to WIF due to its higher liquidity and, therefore, lower perceived risk.
Should the Solana ecosystem continue to gain pace, WIF will likely continue to attract investments and rise in price.
But how high can it go?
Trader Zer0 revealed that he has longed WIF and targets $2.5. The analyst says that it has “churned out all local supply,” alluding to the exhaustion of sellers at its current $2 resistance.
Others are more optimistic in their estimations. Cryptoknight notes that WIF has just broken from an accumulation range and speculates a move to $3.7 in the coming weeks.
Through Q1 of 2024, meme coins provided the biggest gains among all crypto narratives.
During that period, Solana-based meme coins took center stage. Projects like Dogwifhat, Bonk, Book of Meme, and Slerf all caused a buzz.
As we seemingly enter a new bullish period, traders are looking forward to a rerun.
And amid this optimistic market outlook, a new project is emerging and generating a lot of interest. It’s called Crypto All-Stars and will allow users to stake top meme coins and generate passive rewards.
Crypto All-Stars Raises $1.5M at Presale – Can This New Meme Coin 100X?
Crypto All-Stars is brand new, but people are quickly taking note. The project is undergoing a presale and has raised $1.5 million in funding so far.
They’re conducting the presale to build the world’s first unified meme coin staking protocol. Think of it like DeFi for meme coins.
Users will be able to stake their joke tokens (such as Dogecoin, Pepe, Bonk, Shiba Inu, etc) and generate passive $STARS rewards.
Amid bullish market conditions, these compounding gains could amount to significant returns.
Users can also stake their $STARS tokens for even more rewards. Currently, $STARS staking offers a 934% APY, but this will decrease over time.
We must also note that users must hold $STARS to stake their meme coins, and the more they hold, the more they’ll earn.
In the meme coin sector where most projects compete on who has the funniest mascot, Crypto All-Stars provides valuable utility.
Coupled with the virality of meme coins, analysts expect this to cause significant price growth.
Crypto Boy says it can 100x and reiterates the potential of getting in early while it is undergoing a presale.
The current Crypto All-Stars price is $0.0014593.
However, this will rise throughout the presale. The next increase will occur later today.