'Shiba Inu Killer' Dogwifhat Leaps Towards $2 Following Binance Listing: 'Era Of The Meme Coin Is Back'

Dogwifhat WIF/USD rebounded from a price dip after Binance announced the token would be listed for spot trading, prompting bullish trader predictions.

What Happened: Cryptocurrency exchange Binance announced on its X (formerly Twitter) account that Dogwifhat will be listed for spot trading.

The trading pairs will be WIF/BTC, WIF/USDT, WIF/FDUSD and WIF/TRY.

This is the second big listing announcement in a week, following the listing on Robinhood Crypto EU.

CoinMarketCap data shows WIF trading volume exceeding $700 million in the last 24 hours.

The market capitalization of meme coins is up 33.5% in the past 24 hours, trading at over $64 billion per CoinGecko data. 

Read Next: Here's How Trader Makes $582,000 Taking A Long Position On 'Shiba Inu Killer' Dogwifhat

Why It Matters: Analytics firm Santiment introduced a watchlist to monitor the performance of meme coins, tweeting “among top assets for this category, market caps have risen +150%, and trade volume has risen +1,120%.”

Bloomberg host Tim Stenovec noted that the "era of the meme coin is back," particularly noting Pepe PEPE/USD and Dogwifhat. The hosts also discussed the cryptocurrency industry's renewed optimism, following Bitcoin's price surge and a potential Ethereum ETF. 

Gumshoe, an anonymous researcher and investor described the WIF surge as "magical," tweeting “it gave a masterclass on how to build a cult.”

Heavily-followed crypto Youtuber Jake stated that “WIF is changing so many people’s lives.”

WIF reached as high as $1.96 on Tuesday, before pulling back to $1.34 at the time of publication. 

Also Read: Dogwifhat Prints 54% Daily Gain, 'Flippening' Talk Among Traders: 'Imagine $WIF Surpassing $SHIB'

Image created using artificial intelligence with Midjourney.