In a jaw-dropping turn of events, the price of Dogwifhat (WIF) experienced an astronomical surge, briefly reaching an astonishing $41.85 on renowned exchange ByBit. This unprecedented spike followed the platform's public declaration of listing Solana's meme coin sensation on the spot market.
While initially perceived as a groundbreaking surge, the sudden surge in price is now believed to be a glitch in ByBit's system.
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ByBit's announcement of the listing of Dogwifhat on the spot market earlier today marked a significant milestone in the journey of this burgeoning meme coin.
Source: TradingView
Having previously teased the community with hints, ByBit solidified its position as a pioneer in meme coin trading by being among the first major exchanges to facilitate trading of Solana's meme coin on perpetual futures. Now, with the spot listing, the exchange continues to lead the way in embracing the meme coin phenomenon.
Coinbase and Binance next?
The listing of WIF on ByBit spot market could potentially foreshadow similar moves by industry giants such as Binance and Coinbase, indicating the growing acceptance of the Solana meme coin within the broader crypto landscape.
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Since its inception in late 2023, Dogwifhat has captured a significant market share and amassed substantial trading volume. According to data from CoinMarketCap, WIF currently ranks as the 41st largest crypto asset by market capitalization, boasting an impressive $2.7 billion market cap and $285.87 million in trading volume.
However, despite the momentary surge to unprecedented heights, WIF has now stabilized at a more modest price point of $2.69 on major spot exchanges, including ByBit.
