Binance just announced the listing of Dogwifhat (WIF), the Solana-based coin climbing up in the memecoins ranking. The price of the dog-themed coin positively reacted to the announcement news and reached a new all-time high.

WIF Now Trading On Binance

Today, Binance announced the highly anticipated listing of Dogwifhat. WIF has been experiencing a crazy bull run the past few weeks that has catapulted the coin even higher after the memecoin frenzy that started over the weekend.

The hat stays on, on #Binance$WIF will be live for trading at 14:00 UTC.

— Binance (@binance) March 5, 2024

The largest crypto exchange revealed that the listing and open trading of the supported Spot Trading Pairs would occur today at 14:00 (UTC). Additionally, withdrawals will be available on March 6 at 14:00 (UTC).

According to the announcement, the new Spot Trading Pairs available on Binance are WIF/BTC, WIF/USDT, WIF/FDUSD, and WIF/TRY.

The exchange warned users about the “higher than normal risk” of WIF’s price volatility. Due to its relatively new token status, it suggested that investors do their research before deciding to trade the token.

Moreover, Binance announced that the Seed Tag will be applied to WIF. This tag labels the coin as an “innovative project that might exhibit higher volatility and risks than other listed tokens.”

As a result of the Seed Tag, users will need to pass the corresponding quizzes every 90 days on the Binance Spot and Binance Margin platforms to gain trading access to WIF. The quizzes, as the Binance support page reads, are set up to ensure the user’s awareness of the risks of a token before trading it.

The Hat Stays On

Dogwifhat has gone on a “turbo parabolic” rally since late February. This rally has gained the dog-themed coin traditional media acknowledgment.

Recently, a Bloomberg host name dropped WIF, alongside PEPE, when discussing whether the “era of the memecoin is back” on live TV.

Undoubtedly, WIF’s performance has been notable after the memecoin market pullback from a few weeks ago, when WIF was experiencing a 30% price decrease in the 7-day timeframe.

At the time, Dogwifhat was the 196th largest cryptocurrency by market cap, according to CoinGecko data. After investors wore several hats, the memecoin climbed to 64th in two weeks.

Following the announcement, WIF’s price of $1.51 skyrocketed to a new all-time high of $1.90. This price increase represented a 25.8% surge in an hour.

Consequentially, the market activity for the dog-themed coin increased 81.17% in the last 24 hours, with a trading volume of $657.2 million, according to CoinMarketCap Data.

At the time of writing, Dogwifhat has seen an 8.2% price drop from its new ATH mark in the past hour. With a market capitalization of $1.7 billion, 2.2% down from the day prior, WIF is the fifth largest memecoin by this metric. The current price of $1.74 still represents a 2% gain in a 24-hour timeframe.

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Filed under: Bitcoin - @ March 5, 2024 8:00 pm