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Solana-Based mostly Dogwifhat Predicted To Hit New Peak: Right here’s When

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The Solana-based memecoin Dogwifhat (WIF) had a stellar run in March, hitting an all-time excessive of $4.83 on Mar. 30, 2024. The asset has since fallen by 23.4%. Though the asset has confronted a 16.2% correction within the each day charts, WIF remains to be up by 24% within the weekly charts, 66.5% within the 14-day charts, and 134.6% over the earlier month.

Supply: CoinGecko

WIF’s large good points in March could possibly be attributable to Bitcoin (BTC) hitting a brand new all-time excessive. Solana-based memecoins, typically, have seen a large worth surge since 2023.

Regardless of the current worth dip, analysts anticipate WIF to interrupt right into a rally in April.

Solana-based WIF to hit a brand new all-time excessive

dogwifhat wif cryptocurrency meme coindogwifhat wif cryptocurrency meme coin
Supply – Decrypt

In keeping with CoinCodex, WIF may surge to a brand new excessive of $5.09 on Apr. 7, 2024. Reaching $5.09 from present ranges would translate to a progress of about 35.7%.

Supply: CoinCodex

Moreover, CoinCodex anticipates the Solana-based memecoin to proceed rallying all through April, reaching a excessive of $13.02 on Apr. 30, 2024. Hitting $13.02 from present ranges would translate to a progress of over 247%.

WIF’s bullish projection could possibly be attributable to Bitcoin’s (BTC) halving occasion later this month. Many analysts anticipate a market-wide rally fuelled by BTC’s halving. Halvings are thought-about bullish as they cut back the provision of an asset. BTC’s good points could trickle into different property, resulting in a brand new bull run.

Changelly, then again, isn’t very bullish on WIF. The platform anticipates the Solana-based memecoin to hit a most worth of $0.1913 in April 2024.

Nevertheless, if BTC hits a brand new excessive, fuelled by its halving occasion, we could witness different cryptocurrencies comply with. Furthermore, there’s speak about a possible Ethereum (ETH) spot ETF (Trade Traded Fund) being authorized later this 12 months, which can additional speed up the crypto market.

See also  Solana scrambles to deal with failed transaction surge and consumer complaints

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