Dogwifhat (WIF), a popular Solana meme coin, experienced a price surge of nearly 40% following news of its upcoming listing on Coinbase and Coinbase International Exchange. The announcement, shared on X by Coinbase, detailed plans for WIF’s availability on the platforms in specific supported regions, signaling growing mainstream interest in this lesser-known token.
Coinbase Adds Dogwifhat Listing
“Coinbase will add support for dogwifhat (WIF) on the Solana network (SPL token),” the announcement stated. The crypto exchange cautioned users to only transfer the asset through the Solana network, warning, “Do not send this asset over other networks or your funds may be lost.” The advisory aimed to prevent user errors in handling the SPL token, which is incompatible with other blockchain networks.
Coinbase will add support for dogwifhat (WIF) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️ (@CoinbaseAssets) November 13, 2024
Coinbase’s message further clarified the timing and structure of WIF’s trading launch. “Trading will begin on or after 3:30PM ET on 13 November, 2024 if liquidity conditions are met,” the platform announced. According to Coinbase, trading for WIF will start in phases, with the WIF-USD pair becoming available as soon as a sufficient supply of the asset is established.
The anticipated listing has led to a notable rise in WIF’s market value, with buyers eagerly positioning themselves ahead of trading’s formal start. However, Coinbase noted that “support for WIF may be restricted in some supported jurisdictions.” This suggests the listing may have regional limitations depending on regulatory conditions.
WIF Price Rally
Coinbase’s announcement of WIF trading has ignited significant market activity. This marks another example of the exchange’s influence over the price movement of newly listed assets. Earlier in the day, Pepe Coin (PEPE) price surged over 50% after Coinbase announced the PEPE listing.
At the time of writing, the Dogwifhat price jumped 37.24% to $4.16 on Wednesday, November 13. In addition, the meme coin peaked at $4.594 during the day. Also, the trading volume for WIF soared by aa whopping 68.22% to $3.19 billion.