BTC -2.91%
ETH -4.09%
SOL -8.37%
PEPE -11.33%
SHIB -10.38%
BNB -4.53%
DOGE -9.74%
XRP -7.10%
presale is live

DogWifHat Price Prediction as Half a Million Tokens Launch on Solana – Will WIF Continue to Rise?

Simon Chandler
Last updated: | 3 min read

WIF has gained by 6.5% today, with the DogWifHat price climbing to $3.44 on a good day for the cryptocurrency market as a whole.

While WIF is down by 8% in a week, it is still up by 22% in a fortnight, with the Solana-based meme coin up by over 200,000% since December.

This is an incredibly impressive performance, and it has seemingly created an example for other projects to follow, with data showing that nearly 500,000 new tokens launched on the Solana blockchain in May.

However, while WIF will undoubtedly see plenty of challengers in the coming year, it’s likely to remain one of the more popular meme coins for the foreseeable future.

Half a Million Tokens Launch on Solana – Will DogWifHat Price Continue to Rise?

WIF’s chart is in a mixed position today, in that it has gained momentum over the past couple of days, but look like it could be about to correct.

This is most evident with its relative strength index (purple), which fallen from 70 earlier this morning to almost 50 as of writing.

DogWifHat price chart.
Source: TradingView

This is quite a big drop-off, and while WIF’s 30-day average (orange) has recently climbed over the 200-day (blue), its fall in price may drag it down again.

One saving grace, however, is that the meme token’s volume remains healthy, at just over $500 million today.

This indicates that interest in WIF has remained steady over the past few months, with whales and bigger traders regularly buying the token (and selling it) in recent weeks.

This pattern is likely to continue for much of the year, even if the Solana blockchain has witnessed the issuing of hundreds of thousands of challengers to WIF.

If anything, this explosion in meme coins on Solana is a testament to just how successful coins such as DogWifHat have been in that lots and lots of issuers are trying to emulate its success.

In fact, 455,000 launched in the month of May alone, although as the tweet below notes, the vast bulk of these are likely to fade in a few short weeks.

This leaves WIF to continue as one of the dominant meme coins right now, with the wider market’s recovery likely to feed into renewed rallies for the token.

With the launch of Ethereum ETFs likely to increase demand in general for cryptocurrencies, the DogWifHat price could accordingly surge in the next few months.

It may return to $4 by the end of summer, before topping $5 before the New Year.

Alternative Meme Tokens May Offer Bigger Returns

The only real issue with DogWifHat is that, having mooned by over 200,000% since listing, its best days may already be behind it.

What this is that traders looking for the next big sensation may have to check out one of the new meme tokens to have appeared in recent weeks, with several of these looking highly promising as they hold their presales and gain pre-listing momentum.

A great example of this is offered by Sealana (SEAL), a Solana-based meme token that has raised well over $3 million in its popular sale.

Following hot on the heels of tokens such as WIF and BONK, SEAL is aiming to become the next big Solana-based meme coin.

In contrast to all the dog- and cat-themed meme tokens in the market, Sealana has chosen an anthropomorphic and satirically right-wing seal as its avatar.

Its meme stylings seem to be doing a good job of attracting interest and followers, with the coin’s official X account now having more than 8,000 followers.

This is important insofar as it suggests that SEAL will grow the kind of sizeable community necessary to support a token and its price well beyond an initial listing.

Investors can join its sale by going to the official Sealana website, with the token also launching on Ethereum, making it more accessible to would-be buyers.

They can buy SEAL at a price of $0.022 per token, with the performance of its sale suggesting that it will rise far beyond this level once it lists.

Buy SEAL Today

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.