Solana Meme Coin WIF Hits ATH After 120% Weekly Surge: Possible Reasons

TL;DR

• Dogwifhat (WIF) surged to an all-time high following listings on major cryptocurrency exchanges.
• WIF’s market cap exceeded $450 million, approaching the top 100 cryptocurrencies.

The recently-emerged Solana-based meme coin – dogwifhat (WIF) – experienced another impressive rally today (January 18), surging to an all-time high price of over $0.45 (per CoinGecko’s data). It has been among the market’s top performers lately, skyrocketing by 120% on a weekly scale and 250% in the past 30 days.

WIF Price, Source: CoinGecko

The reason for the most latest increase is likely in the fact that Binance also added support to the token, launching the same pair and allowing trading with up to 50x leverage. 

The company’s offering has the multi-assets mode activated, meaning users can employ a variety of cryptocurrencies, such as Bitcoin (BTC), as a margin.

WIF’s market capitalization spiked above the $450 million mark, while PEPE (the fourth-largest meme coin) has around $505 million. The latter has been on a downfall as of late, meaning the Solana meme coin could claim its position in the future should its upswing continue.

Its latest increase could also be attributed to the involvement of several leading cryptocurrency exchanges. As CryptoPotato reported earlier this week, BitMEX listed the perpetual swap contract WIF/USDT. 

WIF is $250 million away from entering the list of the top 100 largest cryptocurrencies. PancakeSwap (CAKE) is currently on the 100th spot with a market cap of $707 million.

The meme coin’s rally coincides with the resurgence of Solana (SOL). The latter is up 3% on a 24-hour basis, surpassing the $100 mark once again.

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