Dogecoin Competitor WIF Surges as Robinhood Adds Trading Support
A recent surprise announcement from Robinhood has sent a Dogecoin (DOGE) rival, dogwifhat (WIF), soaring in value. WIF is now available for trading on Robinhood’s platform, causing the memecoin to spike to $3.62 from a low of $3.06 on Sunday. As of now, WIF has settled at $3.24, marking a 4.7% increase in the past 24 hours.
This Solana (SOL)-based memecoin has a market cap of $3.2 billion and is currently ranked as the 49th largest crypto project. Initially launched less than a year ago in December 2023, WIF is a community-driven memecoin with a fixed supply, featuring an image of a Shiba Inu dog donning a pink knitted hat.
Robinhood’s move to add WIF to its list of digital assets follows the recent inclusion of other cryptocurrencies such as Solana, Cardano (ADA), Pepe (PEPE), and XRP on its platform. With this expansion, Robinhood aims to provide more options for its customers, in line with its commitment to reducing barriers to entry in the crypto space.
Johann Kerbrat, vice president and general manager of Robinhood Crypto, expressed excitement about the growing crypto offering, stating, “We’ve consistently heard from our customers that they want access to more digital assets, and we’re excited to continue expanding our crypto offering. With lower barriers to entry, we believe crypto presents an opportunity for those who have been historically left behind by the traditional financial system.”
This recent development highlights the increasing popularity and interest in cryptocurrencies, as more retail investors are drawn to the possibilities of digital assets. As always, it’s important for investors to conduct their own due diligence and be aware of the risks associated with high-risk investments in Bitcoin, cryptocurrency, and digital assets. Remember, all trades and transfers are at your own risk, so it’s crucial to make informed decisions when navigating the crypto market.
