LIVE
🔥🔥Dogwifhat Could Reach a Staggering $15 in The Near Future
This week has been crazy for Dogwifhat (WIF). By Wednesday, the canine-inspired cryptocurrency had lost 14% of its value after rising almost 10% on Tuesday evening.
The rollercoaster started loudly. Investors soon flocked to Solana-based meme currency Dogwifhat. Its fun moniker and link with the dog meme craze caused a purchasing frenzy, driving up its price by double digits. This positive mood mirrored the meme coin market's 1.5% surge last week.
WIF's price has gained 90% in the last month, adding $0.32 on average. This quick gain suggests the currency might become a solid asset if it continues rising.
Dogwifhat's pleasure was brief. The Solana meme coin category, which contains WIF, fell faster than the general meme coin market. This implies network congestion or platform scalability issues particular to Solana meme currencies may be behind the price decline.
Some experts are hopeful about Dogwifhat's future despite the recent drop. A estimate from Changelly, a major on-chain metrics and pricing prediction service, has raised eyebrows. Their forecast? Dogwifhat might hit $17 soon, a 300% increase from its current price.
This optimistic view is tempered with prudence. The bitcoin market is notoriously volatile. Many meme coins have meme-driven price oscillations and lack the usability or foundations of established cryptocurrencies. Meme coins may provide huge rewards but can cause huge losses.
Bugs and Project Postponements
Over the last month, Solana has encountered network congestion as more projects and consumers joined its ecosystem.
Solana co-founder Anatoly Yakovenko tweeted about “dealing with congestion bugs” last Thursday. In recent days, numerous cryptocurrency projects have delayed token releases due to congestion.
Solana developers plan to issue a fix for a “implementation problem” that has skyrocketed transaction failure rates on April 15.
Helius Labs CEO Mert Mumtaz calls the network issue a “implementation bug,” not a “design flaw.”
