Solana's 'Dogecoin Killer' WIF Up 90% In A Week As LeBron James Appears In Knit Hat

Dogwifhat WIF/USD is up 18% in the past 24 hours, pushing its weekly gains to almost 90%.

In contrast, established memecoins like Dogecoin and Shiba Inu have seen only modest weekly gains of 2.4% and 5.7%, respectively.

What Happened: The surge in Dogwifhat's price occurred after Los Angeles Lakers NBA superstar LeBron James was seen wearing a pink knitted hat resembling the Dogwifhat meme during a post-game appearance.

While the crypto community speculated whether this is a coincidence, there has been no response from James himself, and he is not explicitly involved in promoting any cryptocurrencies.

Also Read: 'Yes This Is Real': Videos Of Wall Street Bull 'Wif Hat' Go Viral, 'Dogecoin Killer' $WIF Up 17%

Why It Matters: Despite the absence of utility-related news or use cases, analysts are still predicting further upside for Dogwifhat. One X user, LectronNFT, forecasted $SOL to reach $140 and $WIF to hit $1.

"Degen gambler" Zer0 tweeted his outlook for WIF.

"Sh**coin and stock trader" TheLordofEntry took to X to highlight that WIF is at resistance but "the next upside target is 0.52.”

Indeed, another example of a memecoin without utility is MAGA coin, which has experienced a notable surge in recent weeks solely based on its namesake.

Since its inception, Dogwifhat has become the sixth-biggest meme coin on the market, according to Coingecko. Further listings on centralized exchanges could see it rocket even higher.

Read Next: Solana-Based Shiba Inu Rival 'Dogwifhat' Rockets 35% As Binance Introduces WIF Futures Contract

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