Solana ecosystem is revitalizing, and although many investors may not yet realize it, two of the largest meme coins were born here. There are several reasons for the rise in Solana’s price, but perhaps the most significant is the meme coins that have energized the community. BONK was launched to compensate investors’ losses when SOL Coin was at very low levels, and those who were patient reaped significant gains.
Dogwifhat (WIF)
The Solana-based meme coin WIF was recently listed on the Binance exchange and, according to CoinGecko data, showed a price increase of up to 38% within 24 hours. At the time of writing, the newly minted meme coin, trading at $2.1, is almost on the verge of overtaking BONK.
Dogwifhat’s market cap is $2 billion, and if it experiences an increase of about 9%, it could push BONK, with a market cap of $2.2 billion, down the rankings. The rapid growth of a meme coin launched just three months ago cannot be explained by the current era alone. The high excitement within the Solana community seems to be the biggest reason for this.
As WIF Coin is still a very new altcoin and has just returned from its ATH level, technical data doesn’t mean much for WIF Coin. However, the $1.56 region had previously acted as strong support during pullbacks. If the price does not fall below this level, new ATH attempts are possible. On the other hand, closures above $2 could indicate that the rally could continue up to $3. For now, the momentum is strong, investor appetite is high, and the general market sentiment is supportive for WIF Coin as BTC is at $67,000.
BONK Coin Forecast
Following the Binance listing, BONK Coin’s price reached a new peak of $0.0000478 months later. BONK was established and launched by an anonymous team in December 2022. As of November 2023, it began its parabolic rally and has risen massively over the past year. I remember the early days as if it were yesterday; they did significant airdrops to investors in the Solana ecosystem, and many sold early because the sentiment for SOL Coin was negative at that time.
Now, if the price can close above the previous ATH of $0.0000351, it has the potential to reach new highs. The ultimate goal is to remove one more zero from the price. In case of a decline, the levels of $0.0000287 and $0.0000237 are important.
