Wednesday was the day when the price of WIF set a new all-time high of $2.2498.
Following its launch on Binance, the price of the Solana-ecosystem meme currency saw a significant acceleration.
Compared to the larger correction in the cryptocurrency market, which was led by Bitcoin's recent fall after hitting a new all-time high over $69,000, the price growth of WIF is more impressive.
In defiance of the broad sell-off in cryptocurrency assets that followed Bitcoin's fall, the Solana ecosystem-based meme coin Dogwifhat (WIF) reached a new all-time high on Wednesday. This came after Binance announced that it will list the token on the exchange.
Binance listing has an influence on the price of WIF.
On Wednesday, the price of the meme currency WIF reached a new all-time high of $2.189 on Binance, which resulted in the market capitalization of the Solana-based meme token WIF exceeding $2.13 billion. Both Bitcoin's ascent to its all-time high of $69,000 and Binance's listing of the meme currency are likely to be the driving forces behind the WIF price surge.
Binance notified buyers and sellers of WIF that the cryptocurrency will be launched on the exchange on Tuesday in a blog post. Whenever Binance makes a statement on the listing of a token, the price of that token tends to increase in response to the news. This phenomenon is referred to as "the listing effect."
According to the statistics provided by CoinGecko, the 24-hour transaction volume of WIF is very near to one billion dollars on Wednesday.
According to a tweet posted on X by Lark Davis, an expert and influencer in the cryptocurrency industry, meme coins are presently the most successful cryptocurrency specialty. Due to the fact that the values of meme coins are seeing a rebound, it is quite probable that WIF will lead the Solana-based meme currencies towards increases in the current cycle.
