Dogwifhat (WIF) Price Consolidates After A Negative Trend, But Might Start To Rise Soon

The Dogwifhat price plunged over 9% in the last 24 hours to trade at $1.69 as of 10 p.m. EST as investors adjust their portfolios to pare holdings of the canine-themed meme coin.

Investors are piling into a new Solana layer-2 meme coin called Solaxy (SOLX) as the meme coin mania continues unabated in the crypto market.

Several experts have stepped forward to share their bullish predictions for SOLX. Among them is an analyst from the 99Bitcoins YouTube channel, which boasts more than 719K subscribers. In a recent video, the analyst said that Solaxy has the potential to soar 100X after its launch.

Solana has gained a substantial amount of traction in the market in recent months due to its low fees and high speeds, making it an attractive chain for meme coin developers. However, Solana has become a victim of its own success with the tsunami of new tokens placing a computational strain on the network.

If something does not change soon, Solana could experience another outage. This risk of downtime is heightened by the meme coin supercycle expected to continue in coming months.

Enter Solaxy, a layer-2 scaling solution designed to help Solana process more transactions while simultaneously lowering network fees. Through its native side chain, the project will alleviate some of the computational stress being placed on the Solana network by the flurry of new meme coins entering the crypto space on a daily basis.

Solana has soared over 1,600% since the start of 2023, and some analysts believe that Solaxy is set to follow a similar price trajectory. The project will also connect Solana to the Ethereum network to create a new and improved Web3 ecosystem that leverages Ethereum’s robust security infrastructure and growing DeFi space with Solana’s low fees and high speeds.

Investors are Rushing to Buy SOLX During Presale

Investors are rushing to buy SOLX during its ongoing presale phase, which has seen the project raise more than $9.3 million so far. This buying frenzy is being driven by bullish predictions by crypto experts, the project’s mission to scale Solana, and the attractive 376% APY being offered to presale buyers who stake their tokens.

To get in on the high staking rewards, investors will first need to purchase SOLX through the simple buy widget embedded on the project’s website. Selling for $0.001594, SOLX can be bought with either crypto or bank card.

Buy before a price hike in about 5 hours to lock in the best deal.

Visit SOLX here.