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Dogwifhat (WIF), a prominent meme token on Solana, has witnessed a substantial surge in market value, rising by 17% from $0.25 to a peak of $0.341. This notable upswing comes on the heels of the token's recent listing announcement on BitMex, a major cryptocurrency exchange.
Gamza KhanzadaevThe primary driver behind this surge appears to be BitMex's revelation of a forthcoming perpetual contract for WIF, accompanied by the option of up to 10x leverage. BitMex, recognized for its influence in the crypto space with a reported $434.98 million turnover in futures trading volume over the last 24 hours, according to CoinGlass, and endorsed by key figure Arthur Hayes, has played its role in catalyzing increased interest and investment in WIF.
While the market gains are immediate and significant, the listing on BitMex holds broader implications for Dogwifhat. The coin's success on this major exchange could serve as a stepping stone, attracting attention from larger platforms such as Binance and Coinbase.
Hat still on
Recent developments position Dogwifhat as a noteworthy player in the meme token space. In two months, WIF rose to seventh place among meme tokens, boasting a market capitalization of $300 million.
Tomiwabold OlajideAccording to BitMex's listing announcement, WIF has earned recognition as a highly anticipated meme coin. The project's unique visual identity, inspired by a Shiba Inu adorned with a knitted hat, has garnered attention within the crypto community, contributing to its increased popularity and market visibility.
Alex Dovbnya
U.Today Editorial Team
Vladislav Sopov
Dan Burgin