Bittime - The crypto world is once again filled with unexpected price movements. At a time when most meme coins are experiencing a decline, Dogwifhat (WIF) has managed to go against the tide. This significant increase in WIF prices was triggered by the announcement of its listing on Binance, the largest crypto trading platform in the world.
Weekend Meme Coin Fever and Market Correction
Last weekend, the crypto market was rocked by the “meme coin fever”. Prices of tokens such as WIF, PEPE, FLOKI, and SHIB have experienced fantastic increases of up to hundreds of percent. However, the party didn't seem to last long.
Also read : What is Meme Coin and Why is it Popular?
The crypto market as a whole is experiencing a correction, and the impact is being felt on most meme coins. FLOKI, WEN, MAGA, and CUMMIES have all seen declines of more than 10% in the last 24 hours.
Check Today's Crypto Market:
Binance Listing as a Savior?
In the midst of this weakening trend, Dogwifhat (WIF) actually managed to record positive performance. Its price increase of over 25% makes it an outlier among other meme coins.
The main driver of this increase was Binance's announcement stating that WIF would soon be able to be traded on their platform starting Tuesday (05/03/2024). The exposure WIF gets from listing on Binance has the potential to attract new investors and increase the liquidity of this token.
Why Does Bitcoin Influence Meme Coins?
The significant increase in Bitcoin (BTC) prices last Monday (reaching $68,500) also influenced the movement of meme coins. Typically, when Bitcoin experiences a sharp rise, investors tend to secure their profits from altcoins and meme coins before moving on to potentially higher-yielding investments.
This led to a correction in the prices of altcoins and meme coins. Bitcoin's dominance in the crypto market has also increased, rising from 51.8% to 52.3% on Tuesday, according to data from CoinMarketCap.
Also Read How To Buy Crypto:
This increase in dominance suggests that investors are turning back to “safe haven” assets like Bitcoin.
Current Coin Dogwifhat (WIF) Price
According to Market Bittime.com when this article was written (06/03/2024) the price of WIF to IDR was at Rp. 33,832 and experienced an increase of +48.24%.
Check Crypto Prices Today:
Conclusion
The price movement of Dogwifhat (WIF) is an interesting example of how market sentiment and listing-related news can influence crypto prices. Although the announcement of the listing on Binance is the main driving factor for WIF's current rise, the future of this token is still full of uncertainty.
Investors should always conduct in-depth research and analysis before deciding to invest in any crypto asset. It is important to consider the project's fundamentals, overall crypto market conditions, and your own risk tolerance.
How to Buy Dogwifhat (WIF) on Bittime
You can buy and sell Dogwifhat (WIF) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Dogwifhat (WIF) is available on Bittime with the market pair WIF/IDR . To be able to buy WIF IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Dogwifhat (WIF) on Bittime .
Monitor price chart movements of Dogwifhat (WIF), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also
Binance Launchpad and Binance Launchpool, What's the Difference?
Binance Launches Crypto Exchange Service in Thailand
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.