Dogwifhat is once again one of the top meme coins in the crypto market. After recording a 50.4% gain over the past seven days, WIF has outperformed the crypto market, which is up 2.2%. It has also increased more than its meme coin peers, which are up by over 15%.
At the time of writing, WIF is trading near a key technical level of $1.13. This is after encountering huge selling pressure at $1.325 earlier this week. The current consolidation appears to be a result of heavy resistance around $1.15. It is a level that traders are closely watching for a potential breakout.
Solana’s Meme Coin Momentum Drives WIF Higher
WIF’s latest rally is part of a resurgence among Solana meme coins, driven by what many believe to be the early stages of a new crypto bull cycle. Over the past month, Dogwifhat has increased by over 182%, caused by a short squeeze that liquidated thousands of bearish positions.
With daily trading volumes surpassing $523 million, which represents almost half of its circulating supply, market momentum remains strong. Analysts suggest that if WIF can maintain support above its 200-hour EMA and break above $1.15, it could grow higher. Indeed, it could make another run toward its $1.35 local high. A confirmed breakout may bring the $2 price target into play before month-end.
However, with much of the upside already realized in WIF’s price, some investors are now asking: What is the next meme coin that could explode like Dogwifhat?
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Bitcoin Pepe (BPEP) Presale Gathers Steam Ahead of May 31 Launch
One of the top contenders to carry the meme coin torch next is Bitcoin Pepe (BPEP). It is a project taking an entirely new approach by building a meme coin layer 2 directly on Bitcoin.
Unlike Dogwifhat, which was born on Solana, Bitcoin Pepe wants to bring meme coin culture to Bitcoin’s trillion-dollar network. It does this with the PEP-20 token standard. This will subsequently be a new layer 2 format that enables fast, low-cost transactions while maintaining Bitcoin’s unmatched security.
The project is pitching itself as the first-ever Meme ICO on Bitcoin, blending crypto-native humor with a serious mission. It will unlock Bitcoin’s dormant liquidity and give BTC maxis a way to participate in meme coin upside without leaving the Bitcoin ecosystem.
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Bitcoin Pepe’s presale is currently live and ends on May 31. With retail and institutional interest growing around programmable Bitcoin, BPEP is emerging as one of the earliest and most narrative-rich bets on this trend.
Why BPEP Could Be the Next Breakout
Dogwifhat’s strong performance this month shows that meme coins are far from done. In fact, they may just be getting started as new narratives emerge across ecosystems.
However, with WIF now approaching heavy resistance and much of its near-term gains potentially priced in, investors are looking to new frontiers. So, Bitcoin Pepe (BPEP) may be that next breakout.
As the May 31 deadline approaches, BPEP’s presale could see more interest from both meme traders and Bitcoin believers. Whether it delivers WIF-level returns remains to be seen; however, the hype is building fast.
