#dogwifhat Dogwifhat Price Forecast: WIF Faces Critical Resistance Around $1, Is $2 Possible This Month?

Dogwifhat (WIF) has once again climbed to the top of the meme coin leaderboard after gaining 182.5% in the past month.

Solana meme coins have been favored during what seems to be the beginning of a new bullish cycle and WIF has emerged as one of the biggest winners.

A short squeeze could be the main cause for this significant uptick as the market was too heavily one-sided by the end of April.

Meme coins like WIF and Pudgy Penguins (PENGU), whose price has nearly tripled in the past 30 days, were the primary targets of short sellers this year.

As prices climbed, thousands of short orders were blown up in the process, triggering some frantic buying pressure on the most heavily sold tokens like WIF.