Solana meme coins Bonk (BONK) and Dogwifhat (WIF) are leading a crypto price rally on Monday, with both up roughly 10% in the past 24 hours as per CoinMarketCap.
Bonk was last trading in the $0.24s, while Dogwifhat was trading in the $2.34s.
The two Solana meme coins have now recovered 35% and 55% from last week’s lows. Their rally comes as sentiment in crypto markets improves.
There hasn’t been a clear catalyst for the market’s recent rebound, with Bitcoin (BTC) up nearly 9% from recent lows.
Perhaps the rising implied probability of a Trump election victory later this year could be helping.
The latest weaker-than-expected US ISM Manufacturing numbers also appear to have aided market sentiment on Monday.
Whether the broader market rebound will continue remains uncertain. A lot rides on economic data out later this week, particularly Friday’s jobs data.
But things are looking up for Solana meme coins Bonk and Dogwifhat.
How High Can Solana Meme Coins Bonk and Dogwifhat Rally?
BONK recently held to the north of its 200DMA, a strong bullish signal.
When BONK last bounced from its 200DMA in April, it proceeded to gain 260% in just a few weeks.
If BONK can repeat this feat, it could soon surge back beyond record highs.
WIF, meanwhile, recently broke a month-long downtrend and could quickly surge back to $4.0.
Citing Elliot Wave analysis, one crypto expert has even predicted that a WIF price above $10 could be on the cards.
don't be afraid to dream a little bigger.$WIF https://t.co/zWSk5xicri pic.twitter.com/7XxUJrWAzu
— Bluntz (@Bluntz_Capital) July 1, 2024
That would see WIF’s market cap surpass $10 billion.
Given Dogecoin’s market cap was last at around $18.11 billion, and Shiba Inu’s was last at around $10.11 billion, that’s not an unreasonable shout.
Meme season will need to return in a big way to send WIF this high, however.
Base Meme Coin to Consider
Solana meme coins Bonk and Dogwifhat have a lot of upside potential during the upcoming bull market.
Investors in these coins could well book 5-10x gains from these levels in the coming months and years.
But some meme coin investors will be hunting even greater upside.
And the best way to book gains in the region of 50-100x is to get into a new meme coin early.
Analysts at Cryptonews keep a close eye on the meme coin markets.
And one new meme coin presale that they are big fans is a new Base meme coin.
Base Dawgz (DAWGZ)’s home might be on the Base chain, but it comes embedded with exciting cross-chain capabilities.
https://twitter.com/BaseDawgz/status/1807288551886750167
Here’s why Cryptonews.com’s in-house analyst Arjay thinks the coin is going to explode.
Learn More About DAWGZ Here
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