Robinhood prolonged its assist to large meme cash by itemizing the favored canine-themed token Dogwifhat.
Dogwifhat (WIF) was the second meme coin added by Robinhood in November after the Menlo Park unicorn listed the Pepe-the-Frog-inspired challenge Pepe (PEPE). Like Pepe, WIF’s worth jumped on the information. Knowledge from crypto.information worth pages confirmed an 8.2% surge lower than one hour after Robinhood’s announcement.
Dogwifhat’s market cap elevated to $3.3 billion, the fifth-largest meme coin by valuation. Solely Dogecoin (DOGE), Shiba Inu (SHIB), PEPE, and Bonk (BONK) surpassed WIF within the meme coin hierarchy at press time.
Robinhood’s crypto confidence at ATH
WIF was Robinhood’s newest crypto addition following President Donald Trump’s re-election to the White Home. The buying and selling platform first onboarded crypto buying and selling in February 2018 however later scaled again its digital asset choices amid regulatory uncertainty.
Robinhood delisted cash like Cardano (ADA) and Solana (SOL) in 2023. Meme cash have been typically unavailable on the platform because the business held its breath over crypto’s safety standing.
ADA, SOL, Ripple (XRP), and two meme cash have been added to the alternate since Trump was declared the winner. There have been additionally rumors that the agency plans to checklist BONK following PEPE and WIF.
From nothing to Vegas to Menlo Park
WIF launched over a yr in the past as Solana’s meme coin mania marshaled power and quantity. Its token holders crowd-funded $650,000 in hours to advertise Dogwifhat on the Las Vegas Sphere. Months after its debut, WIF broke the $1 billion mark and fueled the Solana meme coin narrative to new highs. Since then, a number of meme tokens have flooded crypto centralized and decentralized exchanges.
Suppliers like Pump.enjoyable capitalized on the hype practice, creating an easy-to-use platform that enables anybody to launch a meme coin in minutes.
Because the meme craze elevated, so did desperation amongst builders looking for to push their tokens greater in valuation. One meme developer set himself on fireplace throughout a livestream. The so-called degeneracy advanced after Pump.enjoyable activated its streaming characteristic. Studies of bestiality, coprophagy, and self-harm involved Pump.enjoyable customers and neighborhood observers alike.
