Traders Bullish on Dogwifhat and New Meme Coin Sealana
The post Traders Bullish on Dogwifhat and New Meme Coin Sealana appeared first on Coinpedia Fintech News
As the crypto market regains pace, the meme coin sector is thriving, and analysts are rallying behind Solana’s largest meme coin, Dogwifhat. New opportunities also continue to arise, and traders think the new meme coin Sealana could be next to explode.
WIF Bullish as Whales Activity Grows and Trader Eyes $4.8
The Solana ecosystem has been nothing short of enthralling in 2024, and now all eyes are on WIF as traders anticipate the next leg up is looming.
Currently, WIF is trading at $2.99, up 6% today, down 1.3% this week, and up 4.3% this month.
It currently has a $2.9 billion market cap and a $1.4 billion 24-hour trading volume, up 89% from the previous day.
Compared to meme coins like Pepe or Bonk, Dogwifhat’s recent performance has been underwhelming. However, a CoinMarketCap community account reported that two wallets scooped up over $2 million worth of WIF on Wednesday. Indeed, this is bullish, indicating that smart money is interested.
Meanwhile, traders anticipate that WIF’s recent choppy performance will come to a head and be followed by a decisive upswing.
“WIF is gaining strength. Now, it is all set to smash through its $4.80 resistance level! Don’t miss the party,” wrote Decilizer on CoinMarketCap’s community posts section today.
Similarly, analyst Crypto Breakout highlighted that Dogwifhat currently trades inside a symmetrical triangle pattern and speculates that a breakout to the upside will follow.
Based on the analyst’s forecast, Dogwifhat’s next wave could propel it beyond the $6 mark. This would represent more than a 2x from its current price.
Meanwhile, prominent trader Horse also offered a bullish take on WIF’s price action.
The analyst underscored that its current chart structure suggests another leg up awaits.
It looks like $WIF isn’t ready to take off the hat.
I simply can not see how this structure is not consolidation before higher again. pic.twitter.com/KhUcQ6GMOP
— HORSE (@TheFlowHorse) May 22, 2024
But while Dogwifhat’s outlook is bright, this reflects a widespread bullish sentiment across the crypto market.
However, one project displaying relative strength is the new Solana presale, Sealana. It has raised over $2.4 million so far and is backed to 10x by a popular trader.
Could Sealana be the Next SOL Presale to Explode After BOME and SLERF?
Book of Meme ignited a frenzy on the Solana blockchain in March, raising $2 million at presale and becoming the fastest cryptocurrency to a $1 billion market cap just two days after its IEO.
Others like Slerf and Slothana followed suit, but now, as crypto market conditions improve, Sealana is taking the hot seat.
With subtle South Park references and a witty backstory, Sealana is becoming a favourite among Solana community members.
The project is based on a meme coin-trading seal who resides in his mom’s basement, living off canned tuna and chips with hopes of making huge profits and buying a new Lambo.
This rags-to-riches dream resonates with many degen traders, so Sealana’s explosive presale success is no surprise. However, this momentum is not expected to end with the presale.
Leading analyst Jacob Bury speculates that the project could 10x after launching on exchanges.
Sealana’s community growth is also accelerating, with over 5K followers on X and many posts garnering over 30K views.
The presale is ongoing, but the team has not announced a hard cap. As such, it could end at any time, so potential buyers must act quickly.
Filed under: Bitcoin - @ May 23, 2024 11:13 am