dogwifhat (WIF) Leads Meme Coin Price Rally – ATH Incoming?

dogwifhat (WIF) has begun the week with an impressive rally. The meme coin has performed better than other top meme coins.

Solana-based meme coin dogwifhat (WIF) has started the week with an impressive rally. The meme coin performed better than other top meme coins and managed to lead the meme coin price rally.

At the beginning of the week, WIF surged by around 20%. The meme coin reached a high of $2.32 before coming down to $2.22 at press time.

With this recent surge, WIF still has a long way to go before it can reach its previous all-time high of $4.85, which was set in March. At the current price, WIF is still down by over 50% from that peak.

This contrasts with other meme coins, such as PEPE, which managed to break its all-time high multiple times in May.

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Technical analysis and price predictions

Crypto analyst Davie Satoshi highlighted a key technical level for WIF’s price action. According to Satoshi, while the return to $2.20 is good, WIF needs to break through a key diagonal resistance line to reverse the current downtrend and get out of the bearish channel that it has been trading in.

Good to see $WIF back to $2.20 but we also need to see $WIF break thru that orange diagonal to reverse the current trend and get out of this downward channel. pic.twitter.com/TYVtwMxZun

Echoing this sentiment, analyst Crypto Tony emphasized the importance of WIF breaking through the orange diagonal resistance line. This move is crucial for reversing the current trend and setting up a bigger rally.

Read more: Here’s why Ethereum Name Service (ENS) price is pumping

Solana meme coin ecosystem at large sees strong gains

The strong performance by WIF is not an isolated incident within the Solana meme coin ecosystem. Other popular Solana-based meme coins are also posting impressive gains:

This collective upward price action by Solana-based meme coins suggests a broader positive sentiment towards them, which could be driven by the rising prices of Solana and other coins.

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