Summary
TLDR: Dogwifhat (WIF) on the Solana blockchain surged nearly 50% to $0.5899, part of a broader meme coin rally. Market cap for top meme coins rose by 13.1%. Dogwifhat’s technical formation suggests potential for a 25% increase to $0.6915. Traders have seen significant gains, with one turning $310 into $1.4 million. While there are opportunities for profit, caution is advised due to the volatility of meme coins and altcoins.
Key Points
1. Solana-based meme coin Dogwifhat (WIF) surged nearly 50% in the last 24 hours, reaching a new local high of $0.5899.
2. Solana’s native token, SOL, also saw a 10% increase and is now trading at $111.
3. Dogwifhat’s price jump is rooted in a solid technical formation, breaking out from a cup and handle pattern, suggesting more upside potential.