Binance to list Solana-based memecoin Dogwifhat

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Binance has announced the highly anticipated listing of Dogwifhat (WIF), a Solana-based meme coin that has taken the crypto community by storm.

The hat stays on, on #Binance$WIF will be live for trading at 14:00 UTC.

🐕 🧢

— Binance (@binance) March 5, 2024

Starting from March 5, 2024, at 14:00 (UTC), Binance will enable spot trading for WIF across multiple trading pairs, including WIF/BTC, WIF/USDT, WIF/FDUSD, and WIF/TRY. Notably, however, this listing comes with a “Seed Tag” applied to it. This means that Binance has marked WIF as a token with high volatility and risks compared to other listed tokens.

“WIF is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility,” Binance said in its announcement.

The Dogwifhat token is represented by a dog wearing a knitted hat, launched on the Solana blockchain. Despite its meme-inspired origins, the token has captured significant attention from investors, experiencing a remarkable 2,750% price increase since its inception.

According to Binance, all fees on the token are waived, with fees set at 0 BNB. Due to its Seed Tag, though, Binance is set to conduct periodic project reviews and decide if the Seed Tag should still be applied to WIF, or if it would delist the token entirely.

News of the imminent listing has moved the price of WIF by 28%, up to an intraday high of $1.88 from $1.47. According to data from CoinGecko, the token now has a market capitalization of $1.85 billion over a $373 million average daily volume. Over the past 30 days, WIF has risen by 740.8%. According to the TD Sequential indicator, a possible brief correction could be in place for the token, which experienced drops between 33% to 54% based on historical data.

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