The Israel-Iran ceasefire has paved the way for another broader crypto market rally.
Among altcoins, the popular Solana meme coin Dogwifhat (WIF) is once again among the top performers. The WIF price is up by nearly 40% since its Friday lows.
Prominent analysts have flipped bullish with their Dogwifhat price predictions. However, the broader market outlook still remains uncertain, and WIF still faces several strong resistance levels.
Sidelined investors, particularly those looking to open leveraged longs, need to exercise caution, even as Dogwifhat remains one of the best cryptos to buy for the ongoing bull cycle.
Solana meme coins continue to be excellent investments, especially with smart money investors viewing them as beta bets on SOL.
WIF, in particular, has closely tracked Solana’s performance throughout this bull cycle. Data from crypto-correlation.com shows a 90-day correlation index of 0.91 with SOL, signalling a strong positive relationship.
Unsurprisingly, Dogwifhat has emerged as one of the top performers in Tuesday’s broader market relief rally, especially as all eyes now turn to the imminent approval of spot Solana ETFs.
Since its Friday low of $0.635, the WIF price has surged by nearly 40% to trade as high as $0.884, before a marginal pullback.
More importantly, Dogwifhat has broken its multi-week downtrend and is now retesting the descending trendline. Its daily Relative Strength Index (RSI-14) is also showing a clear breakout, which could indicate an imminent bullish continuation.
However, sidelined investors need to exercise caution. As is evident in the WIF price chart above, the meme coin is facing a strong resistance zone between $0.895 and $1.034.
There is a possibility that it sees a strong rejection here and tests the $0.635 support level once again. In particular, leverage traders should hold off on opening long positions until the Dogwifhat price breaches the highlighted zone.
Notably, the broader market outlook remains uncertain. While a prolonged conflict in the Middle East isn’t expected, tensions between Israel and Iran remain high, and any flare-up could drag crypto prices lower.
However, spot buyers can invest in WIF at the current price without much thought, considering its bullish long-term prospects.
Dogwifhat price prediction from legendary trader Bluntz suggests the popular meme coin could double in the coming weeks, with $1.70 as his next target.
Meanwhile, others are anticipating new all-time highs this year.
A key characteristic of a bull market is that new crypto assets start delivering outsized returns.
For instance, a new Solana meme coin launch, Solaxy (SOLX), surged by more than 100% on Tuesday, thanks to the broader market recovery. Many experts believe it still has significant upside.
Meanwhile, another new Solana meme coin is now gaining major traction. Snorter (SNORT), the native token of the Snorter Bot, has raised nearly $1.25 million in its presale.
Snorter Bot, a full-stack, Telegram-native trading tool, is designed for retail traders trying to survive in a market filled with whales and insiders.
The bot lets users snipe new token launches the moment liquidity hits, set stop-losses and limit orders in advance, and even copy the trades of top-performing wallets in real time. It also comes with a portfolio tracker that shows live PnL and cost basis, all without needing to leave Telegram.
What really stands out is its cutting-edge security. Trades are routed through MEV-resistant relayers, and every token is checked for blacklist functions and hidden rug-pull tricks before the trade goes through.
Already the fastest Solana trading bot, with Ethereum and other major chains coming soon, Snorter is quickly becoming a must-have tool for all retail investors. Notably, it is also the cheapest crypto trading bot, charging just 0.85% fees from all SNORT holders.
Prominent analysts are bullish on Snorter’s long-term prospects, with many calling it the next 100x crypto.
Visit Snorter Presale
