If there’s one lesson the crypto community has learned during this bull run, it’s that when Bitcoin recovers and pumps, meme coins are often the first to follow suit. After Bitcoin bounced from lows around $56,000 to current levels near $63,000 over the past couple of days, top meme coins have been leading the charge.
Two Solana-based meme cryptocurrencies, WIF and BONK, have been at the forefront of this rally, with WIF surging 20% and BONK climbing 11% in the last 24 hours.
As the overall market sentiment improves, let’s explore the analysis and projections for these high-flying Solana meme coins from respected crypto analysts and experts.
What you'll learn 👉
DogWithHat (WIF) Price Prediction and Analysis
The 99bitcoins YouTube channel, boasting over 700,000 subscribers, highlighted WIF’s (formerly known as Dogwithhat) impressive performance and bullish indicators. According to the channel:
“We can see in terms of market cap, we’re currently sitting at $3.1 billion, making this top 37 across 10,000 active cryptocurrencies. In terms of volume, we’re at number 18, which is great as well. And again, on the week as well, looking great, up 17%.”
Despite April’s downturn, the channel expressed optimism for WIF’s future prospects, stating, “It looks like we’re going to see bullish things ahead for DogWithHat entering May. Even on technicals, we’re seeing very bullish indications, as moving averages are indicating a very strong buy.”
The channel further emphasized the growing popularity of this eccentric meme coin, quoting, “People want to load up on DogWithHat, again, very, very exciting things. It’s been a meme coin that’s just been so eccentric, everyone loves this coin.”
While WIF is down 12% on the monthly chart, its remarkable 1,600% surge over the past six months has analysts predicting even higher prices, with some projecting WIF could hit the $5 to $10 range in May.
Read also: ‘Epic Altcoin Season’ Approaches: Analyst Forecasts Alts Surge as Bitcoin (BTC) Dominance Declines
BONK Price Prediction and Analysis
Turning our attention to BONK, another Solana-based meme coin, analyst Jakob Bury shared his technical analysis and price predictions. With 38,000 YouTube subscribers, Bury explained his strategy of setting alerts on lower Relative Strength Index (RSI) levels to identify potential buying opportunities.
“So, to look at the technical analysis side of Bonk, um, just to reiterate my sort of strategy here with meme coins, I tend to set alerts on the lower RSI regions. So, for example, when Bonk hit 33 on the relative strength index here on the daily time frame, um, what that actually did, as you can see here, it presented a buying opportunity.”
Bury emphasized the significance of monitoring RSI levels, suggesting buying when the RSI falls below 40 during bull markets and selling when it rises above 80.
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Show more +Looking ahead, Bury expressed confidence in BONK’s potential for continued growth, stating, “I do think it is possible because of the low Market C and the amount of growth we’ve still got remaining for the crypto space. I don’t think we are near the end at all in these crypto markets, and Bonk has just had a great demonstration of growth.”
Specifically, Bury believes BONK could experience another major leg up over the next three to six months, potentially reaching the $0.00006 region, representing a 2x opportunity from current levels.
“Even a big all-time high here, up to the sort of 0.00006 region, and even at best a 2X opportunity,” Bury predicted.
Meme Coin Mania on Solana
The recent price surges of WIF and BONK underscore the growing popularity of meme coins, particularly those built on the Solana blockchain. As these eccentric and community-driven projects continue to capture the imagination of crypto enthusiasts, analysts and experts are closely monitoring their performance and providing insights into their potential future trajectories.
While past performance is no guarantee of future results, the bullish sentiment surrounding WIF and BONK, fueled by positive technical indicators and growing adoption, has investors eagerly watching these Solana meme coins for potential opportunities.
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