The price of Dogwifhat (WIF), a well-known joke token on Solana, has seen a noteworthy 100% increase subsequent to its announcement of listing on Bybit, a prominent cryptocurrency exchange. Specifically, the token’s value increased significantly in less than an hour, going from $0.235 to $0.34.
New listing for Dogwifhat
The main cause of the increase is said to have been Bybit’s statement about the listing of the WIF/USDT Perpetual Contract with up to 25x leverage today. The exchange wields enormous power in the crypto industry, with a total turnover of $5.84 billion on the spot market and a noteworthy $32.71 billion in futures trading activity in the previous 24 hours, according to CoinGlass.
Dogwifhat has accomplished a historic feat with this Bybit listing, which is its largest listing to date. WIF briefly climbed to the fifth position as the biggest meme token on the cryptocurrency market, with a market valuation of $320 million, thanks to the possibility of accessing Bybit’s massive user base.
Binance and Coinbase to “wear the hat” next?
Industry watchers predict that WIF’s impressive success on Bybit may draw attention from bigger exchanges like Binance and Coinbase, in addition to immediate market gains. Other meme tokens, including Bonk Inu (BONK), have shown similar tendencies and have even gone on to get listings on well-known exchanges.
The Bybit listing has positioned Dogwifhat for possible expansion, generating curiosity about its future in the next days as the cryptocurrency world keenly watches this move.
