TL;DR

• Dogwifhat (WIF) skilled a considerable value rally lately.
• The coin’s surge aligns with a basic pattern of accelerating curiosity in Solana-based meme cash.

The favored Solana meme coin – dogwifhat (WIF) – skilled a value rally of roughly 25% hours after the cryptocurrency trade BitMEX listed the perpetual swap contract WIF/USDT.

“WIF/USDT is a linear perpetual swap, margined in USDT. This permits customers to achieve publicity to the worth of the WIF token and commerce it with leverage, with no need to have WIF holdings,” the corporate defined.

The meme coin has been among the many trendiest cryptocurrencies as of late, with its worth skyrocketing by 330% up to now 30 days (per CoinGecko’s knowledge) and market capitalization nearing the $350 million mark.

Its speedy upswing caught the attention of quite a few trade individuals, together with BitMEX’s co-founder – Arthur Hayes. Final month, he jokingly posted a photograph on X (Twitter) carrying a hat (remarking with the asset’s identify).

BitMEX will not be the one trade to have added assist. Bybit listed WIF/USDT perpetual contract with as much as 25x leverage on January 11.

Different Solana meme cash, similar to Bonk Inu (BONK), have additionally been within the highlight lately. Its value and market cap exploded in December, putting the asset because the third-biggest in its realm, trailing behind Dogecoin (DOGE) and Shiba Inu (SHIB).

One issue that may have contributed to the surge is the interplay from Binance and Coinbase, with each crypto behemoths embracing the asset a month in the past.