Memecoins
Top Solana Meme Coin Dogwifhat (WIF) Skyrockets 1,481% in Major Trading Anomaly
Gamza Khanzadaev
Solana Dogwifhat (WIF) coin sees unprecedented 1,481% surge on ByBit after spot listing, sparking scrutiny and speculation.
Read U.TODAY on
Google News
In a breathtaking turn of events, the price of Dog Hat (WIF) experienced an astronomical rise, briefly reaching an astonishing $41.85 on a renowned exchange ParBit. This unprecedented spike follows the public declaration of the trading platform of the sensation meme coin Solana on the spot market.
Although initially seen as a revolutionary rise, the sudden price increase is now considered a problem in ByBit’s system.
ByBit’s announcement of Dogwifhat’s listing on the spot market earlier today marked a significant milestone in the journey of this burgeoning coin.
Source: Trading View
Having already teased the community with hints, ByBit solidified its pioneering position in meme coin trading by being among the first major exchanges to facilitate the trading of Solana meme coins on perpetual futures contracts. Now, with spot trading, the exchange continues to lead the way in adopting the meme coin phenomenon.
Coinbase and Binance next?
WIF’s listing on the ByBit spot market could potentially foreshadow similar moves from industry giants such as Binance and Coinbaseindicating the growing acceptance of the Solana meme coin in the broader crypto landscape.
Since its creation at the end of 2023, dog hat has captured a significant market share and accumulated substantial trading volume. According to data from CoinMarketCapWIF currently ranks as the 41st crypto asset by market capitalization, with an impressive market cap of $2.7 billion and a trading volume of $285.87 million.
However, despite the momentary rise to all-time highs, WIF has now stabilized at a more modest price of $2.69 on major spot exchanges, including ByBit.
About the Author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to participate in covering economic and financial technology topics, as well as making more people aware of cryptocurrencies and blockchain.