TL;DR
- The meme coin dogwifhat (WIF) surged by 15% following Coinbase’s announcement to add WIF perpetual contracts.
Other assets of that type like Cat in a Dogs World (MEW), Dogecoin (DOGE), and Shiba Inu (SHIB) also saw notable gains amidst overall market recovery.
WIF Stands Among the Best Performers
In recent days, the unpredictable cryptocurrency market underwent significant fluctuations. Major digital currencies, including Bitcoin (BTC), started regaining ground on April 18. However, their progress was interrupted by alarming news: Israel reportedly launched drone and missile strikes against Iran. Consequently, Bitcoin fell below the $60,000 threshold for the first time in nearly two months.
Despite a temporary downturn, the crypto market has bounced back and is thriving once again as of today, April 19. Notably, one standout performer in this recovery is the popular meme coin, Dogwifhat (WIF), which is built on the Solana blockchain and has experienced a significant surge of around 15% within the last 24 hours.
“Coinbase’s decision to introduce WIF perpetual contracts on Coinbase International Exchange and Coinbase Pro was followed by an impressive rally in the price.”
The revival of meme coins, such as the one in question, aligns with a notable increase in Solana’s price. Solana has experienced an impressive 11% daily growth, outpacing the recent gains made by Bitcoin and Ethereum.
Overall Meme Coin Revival
Dogwifhat is not the only token of its type that has witnessed a significant price increase today. The leaders in terms of market capitalization – Dogecoin (DOGE) and Shiba Inu (SHIB) – are up 6% and 5%, respectively.
In the world of cryptocurrencies, MEW‘s Cat token has experienced a 17% rise, while PEPE, FLOKI, and BONK inu tokens have also shown significant growth.
The meme coin market is picking up speed once more, but investors need to exercise caution before jumping in. This sector is notorious for its extreme price swings, which could result in significant losses. For your safety, make sure to watch our educational video on how to avoid common pitfalls when dealing with meme coins.
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2024-04-19 10:48