WIF price hits all-time high, defying crypto market decline and Bitcoin price crash
- WIF price reached a new all-time high of $2.2498 on Wednesday.
- The Solana-ecosystem meme coin saw a massive price surge after its listing on Binance.
- WIF price increase beats the broader crypto market correction, led by Bitcoin’s recent pullback after reaching a new all-time high above $69,000.
The Solana ecosystem-based meme coin Dogwifhat (WIF) hit a new all-time high on Wednesday after Binance said it would list the token in the exchange, defying the general sell-off in cryptocurrency assets following Bitcoin’s correction.
Also read: Dogecoin more than doubles as DOGE joins WIF, PEPE, FLOKI and others in meme coin rally
WIF price sees Binance listing effect
The market capitalization of the Solana-based meme coin WIF exceeded $2.13 billion on Wednesday after the meme coin’s price hit a new all-time high of $2.189 on Binance. WIF price rally is likely catalyzed by Bitcoin’s run to its $69,000 peak and Binance’s listing of the meme coin.
In a blog post, Binance informed traders that WIF would be listed on the exchange on Tuesday. Typically, when Binance announces a token’s listing, its price rallies in response to the announcement, a phenomenon called “the listing effect.”
WIF’s 24-hour trade volume is close to $1 billion on Wednesday, according to CoinGecko data.
WIF/USDT 1-day chart
Crypto expert and influencer Lark Davis said in a tweet on X that the top-performing crypto niche is currently meme coins. As meme coins see a resurgence in their prices, WIF is likely to lead the Solana-based meme coins towards gains in the ongoing cycle.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
