The Solana ecosystem has seen increased activity, led by memecoin dogwifhat (WIF) which has surged over 22%. This surge has positioned dogwifhat as the third largest memecoin by market capitalization, surpassing Pepe. As the first quarter comes to a close, expectations are high for WIF prices to continue their upward momentum.

Following a brief drop after hitting a high of $3.38, the price of WIF rebounded near $2.13 and broke past the 1 FIB level at $3.35. This price discovery phase is expected to continue until the immediate target is tested.

Despite some fluctuations, WIF price has been trading within a rising wedge pattern, with bullish momentum pushing it towards $5. The RSI remains in the bullish range, supported by a positive DMI, signifying continued upward movement. The outlook remains optimistic for dogwifhat, with a potential target of reaching double-digit figures by the end of the year.