Solana meme token Dogwifhat surges 70% amid buzz over potential Binance listing
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Solana blockchain meme token Dogwifhat (WIF) has surged more than 70% in the past 24 hours, driven by whale investment and speculation about a Binance listing.
The price increase comes as an investor named “Binanceinsider.sol” placed a series of large buy orders. Data from Lookonchain shows that whales purchased 17.22 million WIF tokens for approximately $8.65 million.
This huge investment, coupled with the suggestive moniker of Whale, has fueled speculation that Dogwifhat may be listed on Binance.
This is not the first time “binance-insider.sol” has invested in WIF. Previously, the entity had purchased approximately 20 million tokens for approximately $225,000.
Following its latest purchase, “Binance-insider.sol” is now the second largest holder of WIF, with a portfolio worth nearly $7 million.
In the past 24 hours, WIF has risen 70%, with trading volume reaching $35.8 million on decentralized exchanges, according to data from DEXScreener. The token’s market capitalization currently exceeds $230 million.
The rise puts WIF in seventh place among meme tokens in terms of market capitalization, according to CoinMarketCap.
Although Binance has yet to make an official statement regarding the listing of Dogwifhat, the community is eagerly awaiting any announcements following the rapid rise in the price of the token and the activity of “binance-insider.sol.”
Dogwifhat has become one of the most prominent tokens in the Solana ecosystem, gaining traction alongside Bonk (BONK) and other tokens during the December surge in interest in meme coins on the blockchain.
