Dogwifhat (WIF) Gains 19%, Leading Meme Coin Rally

WIF surged recently after major asset manager VanEck filed the first Solana exchange-traded fund (ETF) in the U.S. with the Securities and Exchange Commission (SEC)

VanEck’s move may have reignited enthusiasm among Solana-based meme coin investors, who expect such tokens to surge in price after the Solana ETF is approved.

Meanwhile, Market Spotter, known for its advanced trading indicators, noted on X on July 1 that WIF has broken above a resistance trendline and predicted a price target of $4.5.

WIF’s price rise also came alongside gains in the broader meme coin market, which has risen 4.3% to $49.2 billion over the past 24 hours. In addition to WIF, other popular meme coins that have seen significant price increases include Pepecoin (PEPECOIN), Bonk (BONK), and Brett (BRETT), which have seen increases of 9%, 8%, and 7%, respectively.

At the same time, the global cryptocurrency market also experienced a 3% surge, with a total valuation of $2.33 trillion. Pioneer cryptocurrency Bitcoin also showed positive momentum, rising 2.7% to trade at $62,900, according to CMC data.