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Dogwifhat, a meme coin built on the Solana blockchain, has shown a remarkable recovery, catching the eye of investors after its recent listing on Bybit led to a notable price increase. This development comes amidst a broader rally in meme coins, signaling a possible shift in investor sentiment.
Dogwifhat Rallies Following Bybit Listing
Dogwifhat, a Solana-based meme coin, has piqued investors' interest, with the WIF price recovering slightly following a recent dramatic dip, as per Coingape. Furthermore, the Dogwifhat price increased by nearly $41 on the Bybit app shortly after the spot listing.
Meanwhile, the meme coin's price has rebounded following a huge listing announcement from a well-known cryptocurrency exchange, which appears to have rekindled investor confidence. So, let's look at the essential listing facts as well as the WIF price's most recent performance.
The meme coin sector has recently gained significant impetus, grabbing the attention of market participants worldwide. Notably, the rally in meme coin values like as WIF, MEW, BOME, and others demonstrates the segment's growing popularity.
Meanwhile, the increase in the value of smaller cryptos indicates that investors are shifting their focus away from the major cryptos such as Dogecoin, Shiba Inu, and others. Against this backdrop, WIF's latest significant listing announcement has fueled investor excitement, particularly given the recent selloff in the larger crypto market.
Bybit, a popular cryptocurrency exchange, has announced plans to launch the meme coin Dogwifhat (WIF) on its platform. According to the release, Bybit will list WIF on its Spot trading platform, and deposit options will be available starting April 29 at 8 a.m. UTC.
Meanwhile, Bybit said that it is listing the meme coin because it meets the platform's liquidity requirements, and withdrawals will begin a day later, on April 30, at 10 a.m. UTC. The announcement also mentions that users can make deposits and withdrawals through the Solana network.
Meme Coin Market Gains Momentum
Typically, the announcements from these large crypto exchanges boost market confidence, resulting in a rise for cryptos. However, given the recent volatility in both the overall cryptocurrency market and the meme coin section, investors should proceed with caution before placing their bets.
Meanwhile, despite a steep decrease in the overall crypto market, the Dogwifhat (WIF) price increased by 0.93% and was trading at $2.73 as of writing. However, its trading volume fell by 15.17% to $243.09 million from yesterday.
Notably, the meme coin has seen a high of $2.79 and a low of $2.60 in the recent 24 hours, indicating that the cryptocurrency is highly volatile.
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