This Solana Meme Coin Explodes 50% Daily: Here’s Why

TL;DR

• Solana meme coin WIF (dogwifhat) experienced a significanT price surge, exceeding $0.20.
• A crypto whale’s actions sparked speculation about a potential WIF listing on Binance.

The popular Solana-based meme coin – dogwifhat (WF) – is among the top-performing cryptocurrencies today (January 11), with its price spiking by over 50% and exceeding the $0.20 mark (per CoinGecko’s data). Its market capitalization temporarily surpassed the $230 million level, currently hovering around $200 million.

WIF’s latest rally follows a highly successful 7-day period, during which the asset’s value has increased by over 65%. However, it’s still down from the peak of $0.32 registered shortly before Christmas.

Today’s upswing coincides with the actions of a crypto whale who  spent 86,738 SOL (equaling $8.65 million at the time of the transaction) to acquire 17.22 million WIF tokens. The investor is the second-largest holder of WIF after previously purchasing almost 20 million assets. 

According to the blockchain analytics platform Lookonchain, the whale calls themselves a “Binance insider” and “seems to want to tell everyone” that the token will be listed on the largest exchange by trading volume. 

WIF wouldn’t be the first Solana meme coin supported by the company (assuming it really has intentions to embrace it). In December, Binance  listed  Bonk Inu (BONK), contributing to the token’s all-time high price rally and its brief market cap ascent above $2 billion.