Memecoins
Solana’s leading meme coin Dogwifhat (WIF) skyrockets 1,481% in major IPO anomaly
Gamza Khanzadaev
Solana Dogwifhat meme coin (WIF) posts unprecedented 1,481% surge on ByBit after IPO, prompting scrutiny and speculation
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In a stunning turn of events, the price of Dogwifhat (WIF) saw an astronomical surge, briefly reaching an astonishing $41.85 on the renowned exchange ByBit. This unprecedented spike followed the platform’s public statement to list Solana’s sensational meme coin on the spot market.
Although initially perceived as a revolutionary surge, the sudden price increase is now believed to be a glitch in the ByBit system.
ByBit’s announcement of Dogwifhat listing on the spot market today marked a significant milestone in the journey of this thriving meme coin.
Source: TradingView
After previously teasing the community with tips, ByBit has solidified its position as a pioneer in meme coin trading by being among the first major exchanges to facilitate trading of the Solana meme coin on perpetual futures. Now, with the spot listing, the exchange continues to lead the way in embracing the meme coin phenomenon.
Coinbase and Binance next?
WIF’s listing on ByBit’s spot market could potentially foreshadow similar moves by industry giants like Binance and Coinbaseindicating the growing acceptance of the Solana meme coin within the broader crypto landscape.
Since its inception at the end of 2023, Dogwifhat has captured significant market share and accumulated substantial trading volume. According to data from CoinMarketCapWIF is currently the 41st largest crypto asset by market cap, boasting an impressive market capitalization of $2.7 billion and trading volume of $285.87 million.
However, despite the momentary surge to unprecedented levels, 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 cryptocurrency enthusiast.
Gamza graduated in Finance and Credit with a specialization in securities and financial derivatives. He then obtained a master’s degree in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.