Move Over Shiba Inu, Doge: OKX Lists Soaring Memecoins WIF And MEW

Cryptocurrency exchange OKX has announced the listing of two popular Solana SOL/USD meme coins, Dogwifhat WIF/USD and Cat in a Dog’s World MEW/USD.

What Happened: This move comes as meme coins continue to surge in popularity, with some even reaching multi-billion dollar valuations.

OKX users can now deposit and trade both WIF and MEW tokens against the Tether stablecoin.

Trading opened on April 15, with withdrawals for both tokens enabled on April 16.

Both WIF and MEW have seen significant growth in recent months.

WIF, launched in November 2023, has become a major player, reaching a market capitalization of nearly $5 billion by the first quarter of 2024, placing it among the top 50 cryptocurrencies.

Currently, WIF sits at number 42 and is the third-largest meme coin behind Dogecoin – the memecoin favored by Elon Musk – according to CoinGecko data.

Also Read: Popular Crypto Trader Shares 2024 Predictions For These Three Altcoins

Why It Matters: At the time of writing, WIF is trading around $3, reflecting a 9% increase over the past 24 hours.

The newcomer, MEW, launched just a few weeks ago on March 26.

This feline-themed meme coin aims to challenge the dominance of dog-inspired meme coins like DOGE, Shiba Inu and even WIF.

MEW is currently trading at $0.0052, a significant 87% jump in the last 24 hours, according to CoinGecko.

OKX’s listing of WIF and MEW expands their memecoin offerings to roughly 20, according to their website.

What’s Next: The surging popularity of meme coins like WIF and MEW raises questions about their long-term viability and role within the cryptocurrency ecosystem.

These questions and more will likely be a hot topic at Benzinga’s upcoming Future of Digital Assets conference on Nov. 19.

Read Next: Bitcoin To Go ‘On Another Huge Run,’ Once $100K Is Broken, Crypto VC Claims

Image created using artificial intelligence with Midjourney.