OKX launches WIF and MEW spot trading amid memecoin craze
Cryptocurrency exchange OKX is moving to capitalize on the ongoing memecoin craze by listing major Solana-based memecoins such as Dogwifhat (WIF) and Cat in a Dog World (MEW).
OKX has officially launched spot trading for WIF and MEW, as announced by the XX exchange, OKX users can deposit WIF and MEW tokens on the exchange to trade Memecoins with Tether (USDT) stotocoins.
According to the announcement, YF spot trading will open at 9:00 am UTC on April 15, or one hour after MEW spot trading begins. Mining for both tokens will open at 10:00 am UTC on April 16, OKX pointed out.
WIF and MEW are among the fastest growing memecoins with millions of dollars traded daily. Both are based on the Solana blockchain, which has outpaced rival networks such as Ethereum and Avalanche in adoption due to network activity and the ongoing memecoin frenzy.
In the year Launched in November 2023, Dogwhiphat emerged as one of the largest meme coins in the top 50 coins list with a market capitalization of nearly $50 billion in the first quarter of 2024.
At the time of writing, WIF is the 42nd largest cryptocurrency by market capitalization and the third largest behind Elon Musk's favorite memecoin, Dogecoin (DOGE) and Shiba Inu (SHIB), according to data from CoinGecko.
The token is trading at $3, which is up about 13% in the last 24 hours at the time of writing.
The new cat in the dog world, or MEW, cryptocurrency launched a few weeks ago, officially launched in 2018. It's March 26. Memecoin aims to disrupt the dominance of dog-themed memecoins including DOGE, SHIB and WIF.
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According to CoinGecko data, at the time of writing, MEW is at $0.0052, up 80% in the last 24 hours.
Newly listed memecoins will join the series of memecoins available on OKX. As of this writing, the exchange lists about 20 memecoins, including new additions, on its official website.
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