WIF lost $1.2 billion recently: The market capitalization of dogwifhat (WIF) fell by almost $1.2 billion within three days, highlighting its volatile nature. This substantial decrease was also affected by its 12% price drop, down to $2.83, causing significant losses for investors who bought before the plunge.
Exchange lists and price volatility: Coinbase and Robinhood’s listing of WIF boosted its exposure initially. However, despite the anticipation surrounding regulatory relief, the broader MEME coin market saw a decline. Exchange listings can inflate values temporarily, often followed by sell-offs, affecting the market stability.
Bybit leads WIF trading activity: Bybit recorded $179 million in WIF trading, surpassing Coinbase’s $32 million, indicating a shift in trading activity. The move emphasizes challenges linked to releases on MAJOR exchanges which may drive brief interest but trigger subsequent sell-offs, underscoring MEME coins’ speculative nature.
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