Binance Futures to launch Dogwifhat perpetual contract

The largest cryptocurrency exchange, Binance, will launch futures trading with the Dogwifhat (WIF) meme coin.

According to the announcement on Jan. 18, Binance Futures will launch a Dogwifhat meme coin perpetual contract with leverage of up to 50x. Trading will begin on Jan. 18 at 14:15 UTC.

“Qualified USDS-margined futures liquidity providers will be eligible to enjoy 0.005% maker fee rebates for trades on the WIFUSDT Perpetual Contract for approximately 14 to 15 days.”

Binance announcement

The WIF rate reacted to this news with an increase of 18% at the time of writing – now, the coin cost is $0.4379. At its peak, the token’s price rose by 24% to $0.48. Trading volumes also jumped 84% in the last 24 hours to $148 million, while market capitalization rose 17.6% to $434.7 million.

WIF is a new meme coin based on Solana. The crypto community paid attention to it amid the general excitement around the Solana ecosystem and tokens within this network in December 2023. A new wave of popularity hit Dogwifhat in January – the token had risen in price by 71% and became the 9th largest meme coin.

Rumors later surfaced about WIF listing on Binance, sparking a new rally following the announcement, despite reports of memcoins collapsing on Solana following December 2023 gains.