This solana Meme Coin Explodes 50% Every Day: Here’s Why
TL;DR
- Solana meme coin WIF (dogwifhat) experienced a significant price increase exceeding $0.20.
- The actions of a crypto whale have sparked speculation about a potential WIF listing on Binance.
The popular Solana-based meme coin – dogwifhat (WF) – is among the best-performing cryptocurrencies today (January 11), with its price surging more than 50% to surpass $0.20 (according to CoinGecko data). Its market capitalization temporarily surpassed the $230 million level and is currently hovering around $200 million.
WIF Price, Source: CoinGecko
WIF’s latest rally follows a highly successful 7-day period in which the asset’s value increased by over 65%. But it is still below the peak of $0.32 recorded shortly before Christmas.
Today’s rise coincides with the actions of a crypto whale spent 86,738 SOL (equal to $8.65 million at the time of transaction) to obtain 17.22 million WIF tokens. The investor became WIF’s second-largest owner after previously purchasing nearly 20 million in assets.
The whale calls himself a “binance insider” and “seems to want to tell everyone that the token will be listed on the largest exchange by trading volume,” according to blockchain analysis platform Lookonchain.
WIF won’t be the first Solana meme coin supported by the company (assuming it actually intends to adopt it). Binance in December listed bonk Inu (BONK) contributes to the token’s all-time high price increase and market capitalization to over $2 billion.
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