Solana meme coin Dogwifhat soars 70% amid buzz of potential Binance listing
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Dogwifhat (WIF), a Solana blockchain meme token, soared over 70% in the last 24 hours, driven by substantial whale investments and speculation about a Binance listing.
The price jump coincided with a flurry of large buy orders from an investor known as “Binanceinsider.sol.” Data from Lookonchain revealed that the whale bought 17.22 million WIF tokens for around $8.65 million.
The significant investment, together with the whale’s suggestive moniker, has fueled speculation about a potential Dogwifhat listing on Binance.
This is not the first instance of “binance-insider.sol” investing in WIF. Previously, the entity had purchased about 20 million tokens for around $225,000.
Following the latest purchase, “Binance-insider.sol” is now the second-largest holder of WIF, with a portfolio valued at nearly $7 million.
In the past 24 hours, WIF has increased by 70%, with trading volumes reaching $35.8 million on decentralized exchanges, according to DEXScreener. The token’s market capitalization is now over $230 million.
The rise has placed WIF seventh among meme tokens in terms of market capitalization, as per CoinMarketCap.
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Although there has been no official statement from Binance regarding Dogwifhat’s listing, the community is eagerly awaiting any announcements following the token’s swift price rise and the activities of “binance-insider.sol.”
Dogwifhat has emerged as one of the most notable tokens in the Solana ecosystem, gaining prominence with Bonk (BONK) and other tokens during a surge in meme coin interest on the blockchain in December.