Binance, the largest cryptocurrency exchange, will begin futures trading using the Dogwifhat (WIF) meme coin.
According to an announcement on January 18, Binance Futures will launch a Dogwifhat meme coin perpetual contract with up to 50x leverage. Trading will begin on January 18th at 14:15 UTC.
“Eligible USDS Margin Futures liquidity providers will enjoy a 0.005% maker fee rebate on WIFUSDT perpetual contract trading for approximately 14-15 days.”
Binance Announcement
WIF rates have reacted by increasing 18% at the time of writing. The current coin price is $0.4379. At its peak, the token price rose 24% to $0.48. Trading volume also increased 84% over the past 24 hours to $148 million, while market capitalization increased 17.6% to $434.7 million.
WIF is a new meme coin based on Solana. The cryptocurrency community took note in December 2023 amid general excitement about the Solana ecosystem and the tokens within this network. January brought a new wave of popularity to Dogwifhat. The token price rose 71%, making it the 9th largest meme coin. .
Rumors about Binance’s WIF listing subsequently surfaced, sparking a new rally following the announcement despite reports of Memcoin collapsing on Solana following its December 2023 rally.