Dogwifhat (WIF), a Solana-based memecoin, saw its price surge by 16% in a day, hitting $2.34 on July 1. This follows a 60% rise from its $1.47 low a week ago. The bullish outlook for WIF in July is fueled by a rare bullish reversal technical pattern and anticipation around the Solana exchange-traded fund (ETF) application in the US. WIF's price faces resistance at its 200-4H exponential moving average (200-4H EMA) at around $2.37. However, the price has rallied by over 22% since the filing of 21Shares' S-1 application with the U.S. Securities and Exchange Commission (SEC) on June 28. Other Solana-based memecoins have also seen similar price increases.