The past week has seen an incredible rally across the meme coin sector, with dog-themed cryptocurrencies significantly outperforming major market leaders Bitcoin and Ethereum.
The surge was sparked by Robinhood’s quiet listing of the Solana-based Dogwifhat (WIF) on its European trading platform, causing the coin to jump 4% amid speculation around further exchange listings.
TLDR
- Dogwifhat (WIF) jumped 4% after being listed on Robinhood’s European crypto trading platform, part of a wider surge in dog-themed meme coins over the past week
- The listing fueled speculation that WIF could also be listed on major exchanges like Coinbase soon
- WIF has seen massive growth, up over 50,000% in value since its launch in December 2023
- The meme coin market more broadly has had a very strong week, significantly outpacing Bitcoin and Ethereum
- Frog-themed meme coin Frogwifhat (FWIF) recently launched as well, as investors seek new opportunities in the high-risk, high-reward meme coin sector
WIF has demonstrated astonishing growth of over 50,000% since first launching in December 2023. Its recent all-time high of $1.01 showcases the market’s enthusiasm for dog-themed meme coins.
Major exchange Binance has already demonstrated interest by launching futures trading for WIF at 50x leverage. Many now predict listings on top exchanges like Coinbase could be imminent.
The meme coin frenzy hasn’t been limited to WIF, however.
Top dog Dogecoin has itself gained 46% over the past week, reaching price levels not seen since the 2021 bull run.
Other meme coins have posted even more staggering numbers, like Shiba Inu‘s 38% weekly gain and Bonk’s 95% seven-day increase.
The surge extends beyond just dog coins as well. Crypto traders are seeking new high-risk, high-reward opportunities across the meme coin landscape. For example, the recent launch of Frogwifhat (FWIF) capitalized on the success of frog-themed meme coin Pepe Coin in 2023. FWIF achieved a $4 million market cap within hours of launching.
The robust health of the meme coin market points to traders looking beyond stagnating bluechip cryptos for big gains.
And there could be more room to run – with the anticipated 2024-2025 bull market expected to take the crypto market cap into the trillions, triple-digit returns from the likes of WIF, FWIF and other speculative plays could be on the cards.
