Move Over Dogwifhat, Catwifhat (CWIF) Is The Newest Solana Meme Coin

While the dogwifhat (WIF) meme coin saw a 10% increase in price value over the last 7 days and is now trading around $2.87, it was outperformed by a lesser-known Solana meme coin, catwifhat (CWIF), which pumped over 300% this week.

Let’s delve into the details of what transpired recently in the meme coin sector.

With dogwifhat now ranking as the #4 meme coin by market capitalization, behind only DOGE, SHIB, and PEPE, many analysts are scrutinizing WIF’s price and offering predictions. CRG, an analyst with over 137k followers on X, posted a WIF chart and tweeted, “Something like this maybe.”

His chart suggests that WIF might plunge to around the $2 support level before starting another pump, potentially hitting a new all-time high of approximately $5.

$WIF

Something like this maybe

Salivating https://t.co/mxOzFI1fFw pic.twitter.com/xWkPAvrrAI

— CRG (@MacroCRG) May 8, 2024

Moreover, CrediBULL Crypto, a highly popular crypto analyst on X with almost 400k followers, clarified his stance on the WIF meme coin yesterday. He stated that he is not currently shorting WIF and advised his followers not to speculate about his intentions.

CrediBULL Crypto explained that if he wanted to manipulate a coin, he would target small or micro-cap coins, which would be easier to influence compared to a multi-billion-dollar market cap coin like WIF. He suggested that the reason he is highlighting WIF is simply because its chart looks bearish at the moment.

Additionally, CrediBULL Crypto disclosed that he has not shorted WIF yet because he is waiting for a higher entry point. However, he transparently stated that if such an entry point presents itself, he will definitely consider shorting WIF. He urged his followers not to accuse him of manipulation if he proceeds with shorting, as he is openly sharing his plan.

Just letting you all know right now- didn't short $WIF yet because I was looking for a higher entry which we didn't get. That being said, if we do get it…I'll most def look for a short. If/when that happens don't start crying manipulation cus I'm telling you the plan right now… https://t.co/Cf08zvdPLm

— CrediBULL Crypto (@CredibleCrypto) May 8, 2024

Another prominent analyst, Ansem, with 390k followers, raised attention to the interesting journey of the WIF meme coin. Ansem cautioned against underestimating the power of crypto enthusiasts and the far-reaching influence of the internet.

He highlighted the surprising fact that WIF was included in an official Vaneck index when its market cap was a mere $100k in December, showcasing its unexpected rise to prominence.

never underestimate the power of CT degenerates & the distribution of the internet, $WIF in an official Vaneck index when it was only $100k market cap in December https://t.co/hGbw2hOErq

— Ansem