Solana’s meme cryptocurrency, Dogwifhat (WIF), is experiencing a significant surge of 36% after being listed on the Bitget exchange. This price increase, currently at $0.3198, occurred within a single day, as reported by CoinGecko.
Bitget commenced trading for Dogwifhat at 9 a.m. UTC today, marking its debut in the “Bitget Innovation Zone,” a space specifically designed for the initial listing of trending tokens. The company has established a 60-day evaluation period for all new pairs listed in this zone, and any pair not meeting the specified criteria, such as market depth, will be delisted.
🆕 New Listing @dogwifcoin#Bitget will list WIF/USDT on Jan 24, 8:00 UTC. Deposit now!
🎁 A total $100 #giveaway for 10 members! Just follow RT & tag 3 friends.
Listing – https://t.co/Rf0WnGAYDI
Campaign – https://t.co/tyDGyifbfY— Bitget (@bitgetglobal) January 24, 2024
As of writing this article, WIF’s market capitalization has reached $319 million. Over the last 24 hours, WIF recorded a trading volume of just over $70 million, surpassing the $60 million of Ethereum’s meme cryptocurrency, PEPE.
The Absolute Success of Solana’s Memecoins
Another Solana meme token, BONK, also experienced a significant increase, registering a 7.5% rise from the previous day. While BONK currently holds the 100th position on the list of the largest cryptocurrencies, it still maintains a market capitalization of $660 million, according to CoinGecko.
During the same period, Solana’s native token, SOL, gained 8.5%, trading at $86.77 in the market. Despite a 13% decrease compared to the previous week when it exceeded $100, SOL managed to retain its position as the fifth-largest cryptocurrency, with a market capitalization close to $38 billion. This implies that SOL surpasses XRP and the stablecoin USDC in market capitalization, according to data published on CoinGecko.
Regarding Solana’s trading volume in the last 24 hours, approximately 82% was conducted in transactions with the stablecoin Tether, while another 9% (equivalent to $233 million) corresponds to operations carried out with U.S. dollars.
Despite the recent price correction, Solana remains firmly among the top cryptocurrencies and continues to attract interest from investors. Joe Lonsdale, co-founder of 8VC and Palantir, predicted that Solana would be among the coins traded by “artificial intelligence agents.” Lonsdale suggests that these artificial intelligences will use cryptocurrencies, including Solana, Bitcoin, and Ethereum, to coordinate incentive systems in the economy.
