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Meme coins are on the rise, as evidenced by the gains of almost all tokens in this segment over the past week. Dogwifhat (WIF)a Solana meme coin, has seen notable growth.
WIF has recorded an increase of 31% in the last 7 days, reaching a value of $2.34.
According to analysts, after the consolidation phase of recent months, the current increase in value suggests a potential recovery.
WIF has overcome a long consolidation phase
WIF’s recent growth has brought its market cap to approx 2.3 billion dollars. This increase put WIF in 44th place among the largest cryptocurrencies by market cap, according to the Coinmarketcap ranking.
Last week, the WIF value was less than 2 dollarsbut in the last few days the meme coin has seen an increase which has brought it to a peak of $2.40.
WIF is a relatively young meme coin, launched on the market only at the end of 2023. In March 2024 it reached its all-time high (ATH) of approximately $4.60.
However, with the bear market WIF underwent a correction which brought its value below 3 dollars and subsequently to drop below i 2 dollarsreaching lows lower than 1.1 dollars.
Over the past two months, WIF has managed to stay in a relatively tight consolidation range between 1.4 and 2 dollarsbefore breaking this value range.
A possible new increase for WIF
The current increase has generated a climate of optimism among many traders, suggesting that this could be the start of a possible recovery rally.
In fact, it seems that WIF has reached its minimum in recent months and the recent break of the $2 threshold represents a positive sign.
It must be said that if WIF were not to maintain stably a value greater than 2 dollars and were to fall below this threshold again, we could witness a further retracement towards levels of 1,6 dollars or even $1.40.
On the contrary, if WIF manages to consolidate above i 2 dollarsthe next target could become $3, a level corresponding to the previous high of $2.85 reached last July 24th.
Only with the exceeding of this level and the definition of a new high could the previous consolidation phase be considered concluded.
In case of exceeding the threshold of 3 dollarsby the end of the year WIF could benefit from a further boost, favored by a overall increase in the meme coin industry and the crypto market in general, potentially driving the value of WIF to new highs around 5 dollars.
While waiting for WIF growth, meme coin enthusiasts are betting on Pepe Unchaineda new project that has raised more than 15 million of dollars in presale.
Pepe Unchained
Pepe Unchained is inspired by the character Pepe The Frogwell known in the cryptocurrency sector thanks to the token of the same name.
At the same time, Pepe Unchained wants to create a real Layer-2 network called Pepe Chainto ensure fast transactions and low commission costs for PEPU token holders.
The new network also offers an opportunity for expansion, allowing developers to create new dApps (decentralized applications) and receive incentives for their work.
At the moment, the PEPU meme coin can be bought in presale at $0.00986. Tokens purchased during the presale can be purchased immediately stake on Ethereum to earn passive rewards based on APY, over two years.
With the launch of the Pepe Chain, PEPU holders will be able to carry out the bridging da Ethereum to the Layer-2 network, to maximize their staking profits.
For a guide on how to buy Pepe Unchained in presale you can visit this page.
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