According to the announcement on Jan. 18, Binance Futures will launch a Dogwifhat meme coin perpetual contract with leverage of up to 50x.
A perpetual contract with leverage of up to 50x will be introduced by Binance Futures, according to the announcement made on January 18. The coin is called Dogwifhat. Trading will start at 14:15 UTC on January 18. An announcement from Binance:
“Qualified USDS-margined futures liquidity providers will be eligible to enjoy 0.005% maker fee rebates for trades on the WIFUSDT Perpetual Contract for approximately 14 to 15 days.”
As of the time of writing, the WIF rate had increased by 18% in response to this news, making the coin cost $0.4379. The token’s price increased by 24% to $0.48 at its peak. In the past day, trading volumes have increased by 84% to $148 million, and market capitalization has increased by 17.6% to $434.7 million.
WIF is a brand-new Solana-based meme currency. In December 2023, amidst the widespread excitement around the Solana ecosystem and tokens within this network, the cryptocurrency world noticed it.
In January, Dogwifhat had a surge in popularity; the token’s value increased by 71%, positioning it as the ninth-largest meme coin. Even after the announcement, there were rumors that WIF would list on Binance, which led to a fresh spike.
However, there were also speculations that memcoins on Solana had crashed after making gains in December 2023.