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November promises excitement in the crypto market as Dogwifhat, Solana’s largest meme coin, continues to impress traders.
November is shaping up to be an exciting month in the crypto market, and Dogwifhat (WIF) has many traders stoked.
As the largest meme coin on Solana, it has performed exceptionally well in 2024 – but how far can it go in November?
WIF Shows Strength On Price Chart As Analysts Tip More Gains to Come
Solana (SOL) is expected to rally in November, but WIF is primed to outperform.
Currently, WIF is trading at $2.36, down 0.7% today, down 12.15% this week, and up 5.55% this month. It holds a $2.37 billion market cap and a $264 million 24-hour trading volume.
This month, SOL outperformed it with an 11% pump.
But as Solana leads the market, Dogwifhat has begun to form a bottom in its pairing against SOL, which indicates it could start to see disproportionate growth in the weeks ahead, according to prominent trader Bluntz.
The analyst noted that WIF had formed a “huge divergence” between price and RSI, signaling that an upside move is coming.
Keeping that bullish outlook in mind, Bluntz also analyzed WIF against USD and said it had completed an ABC wave pattern, which he believes will enable a rally toward $3.5.
Bluntz analyzed the 8-hour price chart, which indicates that this move could come shortly.
Meanwhile, analyst TraderSZ also noted that WIF shows strength and looks toward the $3 mark.
He highlighted that Dogwifhat has exhibited momentum after bouncing from its monthly support level, with the range high just below $3.
From a technical standpoint, Dogwifhat looks promising, both against SOL and against USD.
Simultaneously, several emerging catalysts could provide a tailwind for the wider crypto market to grow in November.
This includes the presidential election on 5 November, which, according to Polymarket data, pro-crypto candidate Donald Trump is expected to win.
Following this, the next Federal Reserve meeting will be two days later, in which they’ll decide whether to cut interest rates.
The last rate cut in September sparked a significant price rally for crypto assets, with Bitcoin climbing from $53K to almost $69K.
CME’s FedWatch Tool estimates a 95.5% probability that another rate cut will come on 7 November.
With these two catalysts in the opening week of November, the crypto market is primed for gains.
With that in mind, the analyst’s predictions of between $3 and $3.3 are undoubtedly achievable.
However, the bullish market outlook could be even more beneficial for small meme coins like Flockerz (FLOCK), which is currently undergoing a presale and has raised $1.1 million so far.
New meme coin to watch: Experts bullish on Flockerz after strong presale start
Currently, many meme coins are run by self-appointed, centrally-led teams. Even many so-called “community takeover” projects are accused of being controlled by “cabals.”
But Flockerz tackles this issue head-on.
In crypto, a cabal is a group of whales that secretly buy most of a token’s supply from clusters of wallets and artificially inflate its price. This creates centralization and leads to big losses when the group decides to sell.
Flockerz addresses this with a truly decentralized and transparent meme coin, giving everyone a fair opportunity to participate.
They’re building something called a Vote-to-Earn decentralized autonomous exchange (DAO), which essentially means that every user can vote on decisions relating to the project’s future.
The Vote-to-Earn part comes into play because users will get paid to vote in the DAO, strategically encouraging community participation while aligning user incentives with the project’s success.
Moreover, the Flockerz presale eliminates the risk of cabal control since all investors can participate at a predetermined, fixed rate.
Analysts have high hopes for this idea. Jacob Bury from 99Bitcoins says the project can 100x in price.
Given the upcoming bullish market outlook and the phenomenal success of meme coins in 2024, 100x gains should not be ruled out.
The current FLOCK presale price is $0.0058628, but this is expected to rise in one day.
For more information, visit the Flockerz presale website and join the community on X or join its Telegram for updates.
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