Dogwifhat (WIF) saw a big price jump recently, in line with the rising popularity of meme coins on the Solana blockchain. This surge indicates a notable increase in excitement and involvement in the world of Solana-based meme coins.
The well-known Solana meme coin, dogwifhat (WIF), saw its price shoot up by around 25% shortly after BitMEX added the perpetual swap contract WIF/USDT to its list of available trading options. This move brought a surge in the coin’s value, showcasing the impact of exchange listings on meme coin dynamics.
BitMEX Introduces WIF/USDT Meme Coin
BitMEX recently added a linear perpetual swap contract, WIF/USDT, allowing users to trade the WIF token with leverage, using USDT as margin. This innovative offering provides a way for users to gain exposure to WIF’s price movements without the necessity of holding WIF tokens.
The WIF meme coin has gained significant traction in recent times, witnessing a remarkable 330% surge in value over the past 30 days, as per CoinGecko’s data. With its market capitalization approaching the $350 million mark, WIF has become one of the hottest cryptocurrencies in the market.
WIF Price – Source: CoinGecko
The coin’s rapid ascent hasn’t gone unnoticed, drawing attention from industry figures, including BitMEX’s co-founder, Arthur Hayes. In a playful gesture, Hayes humorously posted a photo on Twitter wearing a hat, playfully referencing the asset’s name, further contributing to the buzz surrounding the WIF meme coin.
WIF Meme Coin Gains Traction Across Exchanges
BitMEX is not the sole exchange expanding support for the WIF meme coin. On January 11, Bybit also listed the WIF/USDT perpetual contract, offering traders up to 25x leverage. This move signifies the growing interest and recognition of WIF in the cryptocurrency market.
Beyond WIF, other Solana meme coins like Bonk Inu (BONK) have recently captured attention. Experiencing a surge in both price and market cap in December, Bonk Inu secured its position as the third-largest in its category, trailing only behind Dogecoin (DOGE) and Shiba Inu (SHIB).
The surge in these meme coins, including WIF and Bonk Inu, may be attributed in part to interactions from major exchanges like Binance and Coinbase. Both crypto giants embraced Bonk Inu a month ago, contributing to the heightened momentum and interest in these Solana-based meme assets.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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