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 day by day charts, WIF continues to be up by 24% within the weekly charts, 66.5% within the 14-day charts, and 134.6% over the earlier month.
WIFβs large positive factors in March could possibly be on account of Bitcoin (BTC) hitting a brand new all-time excessive. Solana-based memecoins, usually, have seen a large worth surge since 2023.
Regardless of the latest worth dip, analysts anticipate WIF to interrupt right into a rally in April.
Solana-based WIF to hit a brand new all-time excessive
In line 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 development of about 35.7%.
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 development of over 247%.
WIFβs bullish projection could possibly be on account of Bitcoinβs (BTC) halving occasion later this month. Many analysts anticipate a market-wide rally fuelled by BTCβs halving. Halvings are thought-about bullish as they cut back the provision of an asset. BTCβs positive factors could trickle into different belongings, resulting in a brand new bull run.
Changelly, alternatively, shouldn’t be very bullish on WIF. The platform anticipates the Solana-based memecoin to hit a most worth of $0.1913 in April 2024.
Nonetheless, if BTC hits a brand new excessive, fuelled by its halving occasion, we could witness different cryptocurrencies comply with. Furthermore, there may be speak about a possible Ethereum (ETH) spot ETF (Alternate Traded Fund) being authorized later this yr, which can additional speed up the crypto market.
