Dogwifhat soared by 40% after listing on Binance

Not financial advice!

Cryptocurrency exchange Binance has launched trading in several spot pairs with the Dogwifhat (WIF) digital token, including WIF/BTC, WIF/USDT, WIF/FDUSD, and WIF/TRY. Withdrawals will be opened today, March 6.

However, investors should approach WIF with caution. The token has been assigned the Seed Tag, which is used by the platform to mark new crypto projects that may show higher volatility and risks compared to other assets.

The news of the listing had the expected effect on the price of Dogwifhat. After Binance 's announcement, the meme-coin rate rose by almost 28%, rising from a daily low of $ 1.47 to $ 1.88, and some members of the crypto community rushed to take profits. For example, a trader known as Pika earned $ 940,000 on WIF with an initial capital of only $ 400.

«I sold the last of the 2.08 million WIFs. It’s been an amazing journey with Dogwifhat from a market capitalization of $ 200 thousand to $ 1.9 billion and a listing on the Binance spot market. It was a dream deal. I continue to support the community and now I trade this coin on SEX,» the cryptocurrency owner said.

However, market experts say traders should be wary of potential volatility. «The TD Sequential indicator has given a sell signal on the daily chart of WIF, which demonstrates a possible short-term correction. Historical data shows that after such signals, the price of the token fell by 33−54%,» analysts emphasize.

According to the CoinMarketCap analytical tracker, at the time of writing, WIF is showing a daily increase of more than 40% and is trading at $ 2.11. The total supply of coins circulating on the market amounted to $ 2.11 billion. Traders made $ 1.3 worth of daily trades, which is 162% higher than yesterday.