TL;DR
Dogwifhat (WIF), a Solana-based meme coin, has experienced a significant price increase following support from a major crypto exchange.
Similar digital assets have also seen notable market movements recently.
The recently-emerged Solana-based meme coin – dogwifhat (WIF) – is among the best-performing cryptocurrencies today (January 24), with its price rallying by over 30% and exceeding the $0.30 mark (per CoinGecko’s data).
WIF Price, Source: CoinGecko
The reason behind the uptrend is likely in the fact that Bitget added support to the asset, placing it into its Innovation and Meme Zone.
The company puts trending tokens in that section for a 60-day valuation period. Meeting certain criteria might lead to their official listing on the platform.
Other crypto exchanges that have recently embraced dogwifhat are Binance, Bybit, and BitMEX.
Another factor possibly contributing to WIF’s latest rise could be the price resurgence of SOL, which is up 8% on a daily scale.
Dogwifhat is not the only Solana meme coin to have made waves in the past few months. As CryptoPotato previously reported, Bonk Inu (BONK) received support from leading exchanges like Binance and Coinbase, and its market capitalization surpassed the $2 billion milestone in mid-December.
However, the figure rapidly decreased in the following weeks, sitting at its current level of approximately $670 million.
Myro (MYRO) has also been in the spotlight, with its value skyrocketing by almost 1,000% in the past 30 days and hitting an all-time high of nearly $0.25 last week. As of the moment of writing these lines, it trades at around $0.21.
The post Here’s Why Solana Meme Coin WIF Exploded by 30% Today appeared first on CryptoPotato.
