Dogecoin’s presence was a major precursor to the rise of meme coins, followed by SHIB and others. Especially in mid-2023, the emergence of PEPE marked the first steps of a new meme coin craze. However, as we entered 2024, the Solana network changed everything. One of the standout projects during this period was WIF coin, which strongly positioned itself among the top 5 meme coins, briefly surpassing PEPE to take the 3rd spot. Today, analysts have varying opinions about WIF.
WIF and Analyst Opinions
While analysts’ opinions continue to hold significant weight in the market, as of the time of writing, WIF, currently ranked 4th among meme coins, has elicited mixed feelings.
In the past, the meme coin rose to as high as $4.85, and its future direction remains a topic of interest. First, it might be useful to look at Altcoin Sherpa’s statement on X. Altcoin Sherpa, a well-known market analyst, seemed to cause some unease with his comments.
Highlighting the significant impact of BTC’s movements on WIF and the rest of the market, the analyst said:
Don’t expect coins like WIF to rise significantly for a while; as long as BTC remains stable, I predict they will continue to fall. It’s not a great point for a leveraged long imo; I would prefer DCA and scaling only if you think this is a leader later on.
Following Sherpa, another market analyst, TheoTrader, also made notable comments on X, appearing more optimistic.
TheoTrader’s comments were as follows:
While the rest of the market is bleeding, $WIF is holding up well here. A breakout could trigger a strong rebound. This is my opinion.
How Much is WIF Worth?
On the day Bitcoin 
$106,445 briefly fell to $54,000 and then stabilized at $54,400, WIF’s price rose by 0.85% to $1.51. In addition to today’s rise, the price movement over the past 7 days indicates a 1.12% increase.
On the other hand, it would not be wrong to say that WIF is still 70% away from its ATH. Following WIF’s price movement, its market cap settled at $1.5 billion, while its 24-hour trading volume dropped by 35% to just $170 million, indicating a decline in investor interest.
