Dogwifhat (WIF) Smashes $1 Barrier—Is Solaxy the Next Solana Meme Coin to Explode?

Solana’s meme coin maniacs have a new trophy: Dogwifhat (WIF) just pierced the $1 mark, leaving skeptics scrambling. Meanwhile, whispers of ’Solaxy’ hit degenerate Telegram chats—another ’next big thing’ or just another vaporware play for bored crypto bros?

Meme coins keep printing while ’serious’ DeFi projects sweat for adoption. The irony? WIF’s 24-hour volume now rivals some mid-cap utility tokens. Solana’s low fees and high-speed chaos remain the perfect petri dish for these speculative frenzies.

Solaxy’s unnamed devs promise ’community-driven magic’ (read: no whitepaper). Will it follow WIF’s rally or join the 99% of abandoned meme coins? Either way, hedge funds are now taking notes—between clenched teeth.

The meme coin sector is rapidly erasing the losses it faced between February and the first half of April, growing by 68.22% since April 12th, with several leading tokens recording triple-digit gains over the period.

Among them, dogwifhat (WIF) leads with a 205.55% surge over the past month. As the meme coin market heats up, new Solana project Solaxy (SOLX) appears ready for an explosive debut with nearly $35 million raised in its presale phase.

Dogwifhat and Other Solana Meme Coins Rally – What’s Next for WIF?

Although most meme tokens recorded substantial gains since the second half of April, Solana-based meme tokens outperformed most competitors.

While Dogecoin (DOGE) and shiba inu (SHIB), the two largest meme coins, grew by 53.13% and 41.57% over the past 30 days, respectively, Solana-based meme coins like WIF, Pudgy Penguins (PENGU), and Peanut the Squirrel (PNUT) all surged by 190-205% over the same period.

Among the top 25 meme tokens, Moo Deng (MOODENG), which also belongs to the solana ecosystem, is leading the charts after it skyrocketed by 853.46% since mid-April.

As the chain’s second-largest dog-themed token, WIF is largely benefiting from the boost in visibility that meme coins are enjoying, and technical expert crypto G believes that trend will continue throughout May.

$WIF – new plan below. Break 1.30$, some pullback across the board, 2$ soon #WIF https://t.co/xvEqlfNpNS pic.twitter.com/bETDoyWm8u

The expert is confident WIF will continue soaring past the $1.4 mark in the short term but expects it to face a slight correction that WOULD see it return to its current level of $1.26, as the token has entered overbought territory with a Relative Strength Index (RSI) of 75.40.

Once the consolidation phase is over, Crypto G anticipates similar movement to repeat until WIF reaches $2.

As a meme token governed by its community and offering no specific utility, WIF thrives during market-wide bull runs, and its technical indicators are currently reinforcing the bullish sentiment surrounding it.

Entering May 12th with a long/short ratio of 2.1, which reveals that only one in three traders is shorting the token, and valued well above its 50-day Simple Moving Average (SMA) of $0.51, WIF seems prepared for further short-term gains.

Additionally, WIF is close to crossing its 200-day SMA of $1.35, which is often considered a bullish signal for a token’s long-term growth, so it’s no surprise that chart analysts like Herro believe it has the potential to reach a new all-time high (ATH) this month.

Herro expects WIF to surge to the $5 mark if the buying pressure is maintained, which would place it above its March 2024 ATH of $4.85. However, a new Solana token could be set for even bigger gains.

Solaxy to Launch Solana Layer-2: Expert Sees 20X Potential

Solaxy is a meme coin with a twist that’s entering the space with a solution for one of Solana’s biggest issues. Solana’s impressive speeds and low gas fees have helped transform the meme coin space into one of crypto’s most popular sectors, but the chain isn’t without its flaws.

Suffering from congestion during high-traffic hours, Solana saw transactions take days to finalize in January, which led to a massive drop in on-chain activity and the value of its native token, SOL.

Solaxy intends to address the issue with the release of its LAYER 2 blockchain for Solana, which will leverage rollups to bundle and process transactions off-chain, potentially preventing transactions from failing or taking long to finalize.

Plus, its developers will launch an entire ecosystem that will include components such as a token launchpad, a bridge between Solana, Ethereum, and Base, a block explorer, and more.

In the latest developer update, the team behind Solaxy revealed that the testnet version of the bridge will be released this week, as the launch of its token and ecosystem nears.

Meme coin expert ClayBro believes Solaxy can launch in near-perfect market conditions as he expects Solana and the meme tokens in its ecosystem to push even higher during the bull run.

Solaxy is on presale currently at $0.001722, but this price won’t last long as it will keep rising during the presale until it reaches $0.00179. With such huge investor backing and a much-needed utility, Solaxy looks set to become one of the biggest crypto launches of 2025.