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In a significant development, the price of Dogwifhat (WIF), a notable meme token on Solana, has experienced a remarkable 100% surge following its listing announcement on Bybit, a major cryptocurrency exchange. In particular, the token's value surged from $0.235 to $0.34 within a one-hour time frame, marking a substantial increase.
New listing for Dogwifhat
Bybit's announcement, detailing the listing of the WIF/USDT Perpetual Contract with up to 25x leverage today, is believed to be the primary driver behind the surge. The exchange holds substantial influence in the crypto space, with a total turnover of $5.84 billion on the spot market and a notable $32.71 billion in futures trading volume in the last 24 hours, according to CoinGlass.
This listing on Bybit is a historic achievement for Dogwifhat, representing its largest listing to date. With the potential to tap into Bybit's extensive user base, WIF momentarily became the fifth largest meme token on the crypto market, boasting a market capitalization of $320 million.
Binance and Coinbase to "wear the hat" next?
Beyond immediate market gains, industry observers anticipate that the strong performance of WIF on Bybit could attract interest from larger exchanges such as Binance and Coinbase. Similar trends have been observed with other meme tokens, including Bonk Inu (BONK), which eventually secured listings on major exchanges.
As the crypto community closely monitors this development, the Bybit listing has positioned Dogwifhat for potential growth, prompting speculation about its trajectory in the days ahead.
Alex Dovbnya
Valeria Blokhina
