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 rising Solana-based memecoins like the Dogwifhat (WIF) and the Cat in a Dog’s World (MEW).
OKX has officially started spot trading for WIF and MEW, according to the exchange’s announcement on X. OKX users can now start depositing WIF and MEW tokens on the exchange to start trading the memecoins against the Tether (USDT) stablecoin.
According to the announcement, WIF spot trading will open at 9:00 am UTC on April 15, or one hour after MEW spot trading was launched. The withdrawals for both tokens will open at 10:00 am UTC on April 16, OKX noted.
WIF and MEW are among fast-growing memecoins, trading millions of dollars each day. Both are based on the Solana blockchain, which has been outperforming rival networks such as Ethereum and Avalanche in terms of network activity and adoption due to the ongoing memecoin frenzy.
Launched in November 2023, Dogwifhat (WIF) has emerged as one of the biggest memecoins, making it to the list of the top 50 coins by market capitalization by the first quarter of 2024 at nearly $50 billion.
At the time of writing, WIF is the 42nd-largest cryptocurrency by market cap and the third-largest memecoin after Elon Musk’s favorite memecoin, Dogecoin (DOGE), and Shiba Inu (SHIB), according to data from CoinGecko.
The token is trading at $3, up around 13% over the past 24 hours at the time of writing.
The new Cat in a Dog’s World, or MEW, cryptocurrency was launched just a few weeks ago, officially debuting on March 26. The memecoin aims to disrupt the dominance of dog-themed memecoins, including DOGE, SHIB and WIF.
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At the time of writing, MEW is trading at $0.0052, up 80% over the past 24 hours, according to CoinGecko data.
The newly listed memecoins join a series of memecoins already available on OKX. At the time of writing, the exchange lists roughly 20 memecoins, including the new additions, according to its official website.
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