Dogwifhat (WIF) Primed to 2x as a Solana Beta Play, But Will It Outperform Pepe Unchained?

Dogwifhat has a high chance of success. Positioned as the leading meme coin on Solana, it is a magnet for new liquidity.

Dogwifhat continues to impress investors, notching a 34% gain this week. But how much further can it go?

WIF is positioned as the leading meme coin on Solana, making it a magnet for new liquidity. Both ecosystem newcomers and whales will choose WIF over its lower market cap alternatives.

For newcomers, WIF is an easy go-to, requiring little upfront research. And for whales, WIF has the highest liquidity, which means they can take large position sizes with minimal price impact.

What this essentially means is that WIF becomes a proxy for SOL. We can see this on multiple time frames.

SOL is up 5% this week, WIF is up 33%. SOL is up 11% this month, WIF is up 49%.

Meanwhile, SOL is 30% from its 2024 high, while WIF is 52% from its.

buying $WIF is like taking a leveraged bet on $SOL. I am bullish on SOL. So i have taken a leveraged bet on $WIF for max gains.The hat stays on.

In periods where SOL performs well, WIF tends to perform better. However, the opposite is also true.

With that, we must strongly account for SOL’s performance in our WIF price prediction.

And according to analyst Tendo, SOL is preparing for gains.

The analyst notes that SOL is accumulating in a macro zone above its previous range high, dubbing it “one of the best accumulations” that he has ever seen.

Structurally speaking, this is one of the best accumulations I've ever seen pic.twitter.com/S80ioE8QaV

Meanwhile, asset manager VanEck says Solana will reach $330 and 50% of Ethereum’s market cap this cycle, citing its superior speed and transaction processing metrics.

So what does this mean for Dogwifhat?

As mentioned, a lot of capital inflows into the Solana ecosystem will be directed to WIF. This is thanks to its beta exposure to the SOL price, coupled with its high liquidity and accessibility.

Analysts are pointing toward significant gains. For example, Davie Satoshi anticipates a move toward $6 by the end of 2025. This marks almost a 3x gain from its current price.

He notes that WIF has just broken above a trendline resistance level, indicating a shift into bullish momentum.

It seems a lot of folks forgot about $WIF. But at $2 billion market cap, this solana meme coin has been in the accumulation phase in the past few months. The triangle pattern has been broken so I do believe we have begun wave 3. pic.twitter.com/lzLg7oBObZ

Meanwhile, Shelby is looking toward a similar target, eyeing $4.9 in the coming weeks.

The analyst notes that WIF has reclaimed an important level and expects a trend continuation ahead.

$WIF pic.twitter.com/aD9DU2P33K

Considering the bullish expectations of SOL and WIF’s position as a SOL beta play, we expect significant inflows throughout the rest of 2024.

Davie Satoshi’s $6 target seems optimistic but reasonable. It would place WIF close to Pepe’s current market cap. And of course, it’s expected that Pepe will also rise throughout that period.

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