- Robinhood Crypto Europe quietly adds Dogwifhat (WIF) amid the meme coin craze, boosting its value by 7%.
- Dogwifhat has surged over 50,000% since December 2023, catching the eye of investors worldwide.
Robinhood Crypto Europe has discreetly integrated support for Dogwifhat (WIF) following the token’s staggering surge of nearly 200% within a week. The move comes amidst a broader frenzy surrounding meme coins on the network, with Dogwifhat experiencing exponential growth since its inception in December 2023.
The decision to list Dogwifhat on Robinhood comes hot on the heels of the platform’s recent integration with Arbitrum, an Ethereum Layer 2 solution, signaling Robinhood’s commitment to embracing the evolving landscape of cryptocurrencies.
Although Robinhood has not made an official announcement on WIF’s listing, the token has been noticeable on the platform and has seen a significant 10.15% gain in price, reaching $0.95. Dogwifhat has reached a major milestone with its listing on Robinhood Crypto Europe, which will increase its exposure and accessibility in the cryptocurrency industry.
WIF’s meteoric rise can be partly attributed to the backing it has received from influential figures within the crypto community. Notably, the meme coin gained substantial traction following a post by Hsaka, a respected voice in the crypto space, featuring an image of a wolf donning a hat. This endorsement propelled WIF to new heights, with its value surging by nearly 75% in just two days, reaching an all-time high of $1.01 per token.
$1b+ 24h perps volume
no tier 1 spot listings yet. (expect this to change soon) https://t.co/5ESQd3bJye
— Hsaka (@HsakaTrades) February 28, 2024
Market Dynamics and Future Prospects for Dogwifhat (WIF)
Since its launch, Dogwifhat’s value has increased by an incredible 50,000%, attracting the interest of both large cryptocurrency exchanges and individual investors. Additionally, Binance has launched futures trading for WIF with up to 50x leverage in response to the growing demand in the cryptocurrency.
The launch of Robinhood’s cryptocurrency services in the European Union is a testament to the platform’s dedication to accessibility and worldwide reach. The relevance of the European market is emphasized by Johann Kerbrat, General Manager of Crypto at Robinhood Crypto, who also emphasizes the region’s strong regulatory environment, which supports the development and uptake of crypto assets.
With WIF’s trading volume surpassing the $1 billion mark, speculation is rife that major cryptocurrency exchanges, commonly referred to as tier 1 exchanges, could soon follow suit and list the Solana-based meme coin. At the same time, Binance has already introduced perpetual contracts for WIF anticipation mounts for the activation of spot trading. Similarly, investors have been speculating about WIF’s impending inclusion on Coinbase, a well-known US-based exchange, as it is not yet listed.
Price Expectations and Growth Potential
Despite WIF’s aim to reach $1 per token, some investors may hesitate to capitalize on Dogwifhat’s potential due to concerns over timing. There is still a lot of space for exponential development, though, as its market value is currently less than $1 billion. Considering the similarities between the market peaks reached by Dogecoin and Shiba Inu in 2021 and the optimistic outlook for the market at the moment, WIF is well-positioned to benefit from the upward trend and possibly generate significant returns for investors.
While dog-themed meme coins have dominated the crypto market, 2023 witnessed the emergence of frog-themed Pepe Coin, showcasing the diversity and potential within the meme coin ecosystem. The emergence of Frogwifhat (FWIF), a recently released coin that debuted on Uniswap and quickly amassed a $4 million market value in a matter of hours, was motivated by this trend. Because the cryptocurrency industry is dynamic, the success of Frogwifhat signals a broader shift towards investigating different meme coin plots.
