Robinhood Adds Solana-Based WIF To The Ranks Of Dogecoin, Shiba Inu

American financial service company, Robinhood has shocked the broader cryptocurrency community by listing Solana-based Dogwifhat (WIF) meme coin on its platform. 

Robinhood Officially Lists Dogwifhat (WIF)

In a recent update on its official website, Robinhood has announced its support for the doggy-themed meme coin, WIF. The financial service firm has placed the Solana-based token among the ranks of prominent cryptocurrencies like Dogecoin and Shiba Inu. 

Launched in December 2023, the Dogwifhat token remains one of the newest meme coins in the cryptocurrency space presently. The token operates on the Solana network and emulates a humorous image of a Shiba Inu dog wearing a hat.  

The addition of the WIF token on Robinhood is viewed as a pleasant surprise by the cryptocurrency community, which anticipates a substantial surge in the meme coin soon. The listing also comes as part of Robinhood’s strategic move to diversify its cryptocurrency portfolio, catering to a more extensive audience and addressing the evolving needs of its user base. 

Furthermore, Robinhood’s decision to support the WIF token is set to expand its platform and the cryptocurrency to new traders and investors, facilitating widespread adoption and engagement from crypto enthusiasts around the globe. 

The financial service firm has noted that the WIF token is presently available to buy, sell and hold on its crypto platform. Users can now securely engage in cryptocurrency trading at a low cost while earning a percentage of their trades in Bitcoin. 

Currently, the Robinhood platform supports 31 cryptocurrencies, including the WIF token. In line with its expansion strategy, the financial service company has disclosed plans to incorporate more cryptocurrencies into its portfolio in the future. 

WIF Experiences Massive Price Surge

Recently, the Dogwifhat (WIF) meme coin has witnessed exponential growth, recording over a 317% increase in the past month, according to CoinMarketCap. The widely discussed meme coin was previously trading at a price above $0.2 last month. However, following an impressive surge of over 200% in the last week, WIF is currently trading at $0.91.

The cryptocurrency had hit the $1 price mark at one point but subsequently retraced to settle just above $0.9. Presently, WIF continues to ride the bullish wave, recording a 14.15% increase in the last 24 hours. With the market capitalization surpassing $934 million, the meme coin has recorded a trading volume of over $226 million. 

Highlighting WIF’s significant price surge with a screenshot of its price chart, BitMEX Chief Executive Officer, Arthur Hayes has expressed excitement over the unprecedented price surge. The crypto CEO had previously revealed intentions to invest in WIF, foreseeing a potential bullish trajectory for the cryptocurrency.

Price at $0.94 | Source: WIFUSDT on Tradingview.com

Featured image from Decrypt, chart from Tradingview.com