As of Jan. 16, Dogwifhat (WIF), a prominent meme token on the Solana blockchain, has experienced a substantial uptick in market value, soaring by 17% from $0.25 to a peak of $0.341.
This surge follows the recent announcement of WIF’s listing on BitMex, a recognized player in the cryptocurrency exchange arena.
Dogwifhat’s Surge After Exchange’s Integration
The impressive surge catalyzes the exchange’s revelation of an upcoming perpetual contract for WIF, coupled with the enticing option of up to 10x leverage. The exchange has reported an impressive $434.98 million turnover in futures trading volume over the last 24 hours, as per CoinGlass.
Big news for @dogwifcoin fans
The market’s first $WIF perp is on its way to BitMEX:
10x leverage, margined in $USDT
17 January at 04:00 UTC
Enjoy a 1.15 maker rebate when trading the new listing.
Contract details
https://t.co/KuR7JKXVFS
— BitMEX (@BitMEX) January 16, 2024
Beyond the immediate market gains, the listing on exchange holds broader implications for Dogwifhat. Success on this major exchange positions the meme token as a potential magnet for larger platforms like Binance and Coinbase, paving the way for expanded visibility and liquidity.
Dogwifhat’s recent strides mark its emergence as a notable contender in the meme token realm. Within two months, WIF ascended to the seventh position among meme tokens. It currently holds a market capitalization of $300 million.
Dogwifhat’s listing on another crypto exchange elevates its market standing. It opens doors to heightened opportunities and recognition within the broader cryptocurrency ecosystem. However, long-term success can only occur through user-oriented development and utility. It is unclear if this – or any other meme token – can check off that box.
