An experienced crypto analyst predicts that a Solana (SOL)-based meme asset with a market cap of $1.89 billion will drop to zero against Dogecoin (DOGE).
During a recent strategy session, crypto strategist DonAlt, known for his insights, shared with his followers on X that meme coin dogwifhat (WIF) might see a temporary bounce against DOGE but will eventually trend towards zero against it.
“I previously mentioned that this was the ‘safest’ trade to consider for hedging. However, I now believe that might not be the case anymore. While WIF could potentially bounce against DOGE in the short term, I ultimately see WIF heading to zero against DOGE, making any relief temporary in my view.”
DonAlt’s analysis suggests that WIF/DOGE could trend towards zero by the second half of 2025. As of now, DOGE is priced at $0.309, experiencing a 10% drop, while WIF is valued at $1.98, down by 12% in the last 24 hours.
Shifting focus to Ethereum (ETH), DonAlt also shared his thoughts on the top altcoin’s performance. He mentioned that if Ethereum fails to maintain the $2,900 support level, it could indicate a challenging cycle for investors.
“I didn’t expect it to happen, but here we are. Ethereum looks stable around $2,900 in my opinion. However, if we lose that support level, it could signify the toughest cycle in crypto history for all of us.”
Currently, Ethereum is trading at $3,339, reflecting a 5.6% decrease for the day.
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Image Credit: DALLE3
