Dogwifhat (WIF) saw double-digit growth on Monday being the second-best gainer for the day, according to data from CoinMarketCap. Today’s gains mark an upbeat trajectory for the coin with a seven-day gaining streak. Market participants are now wondering if the coin will hit the $5 level in the future.
WIF Sees Seven Days OF Green Trading
WIF saw an over 10% rise on Monday as investor confidence and risk appetite soared. At press time, the coin is up 12.07%, trading at $2.29 apiece.
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Over the week, WIF has seen an over 38% rise making it one of the most prominent trading sessions for the token. WIF’s upbeat trading comes at a time when other meme coins have suffered pressured and fluctuating trading sessions.
The most popular meme coin in Solana, Dogwifhat (WIF), has broken out of the declining trend while other meme coins have experienced one. The main reason behind this can be attributed to the hype behind Solana ETF.
As anticipated, the recent developments have not only increased the price of Solana (SOL), but native projects such as Dogwifhat have also experienced significant growth in the last week.
Solana ETF Hype Drives Gains For WIF
Investment management VanEck filed to list the first exchange-traded fund (ETF) in the United States that is correlated with the spot price of Solana on June 27. The news that came as a boon for many crypto investors, soon saw markets being flooded with speculations.
As Bankless Times reported earlier, according to the notice posted on the website of the US Securities and Exchange Commission, the VanEck Solana Trust will be an exchange-traded fund that issues common shares of beneficial interest after receiving approval. It is anticipated that these shares will be listed on the Cboe BZX Exchange, Inc.
Over the past week, the price of Solana has been up 16.85%, giving a push to WIF prices as well.
Will WIF Rise Again in the Future?
During July, it is expected that the price of Dogwifhat will increase by 222.38%, to $ 7.03, based on the current price estimate. Analyst data and technical indicators indicate that the current mood for the coin is bullish, while the Fear & Greed Index is currently reading 53 (Neutral).
Over the previous 30 days, Dogwifhat recorded 11/30 (37%) green days and 22.27% price volatility. Data also indicates a bullish overall attitude for Dogwifhat price prediction, with 18 technical analysis indicators indicating bullish signs and 6 indicating bearish indications.
