OKX Adds WIF and MEW Memecoins for Trading Amid Memecoin Surge

OKX Adds WIF and MEW Memecoins for Trading Amid Memecoin Surge

Crypto News – OKX users can now deposit Dogwifhat (WIF) and the Cat in a Dog’s World (MEW) memecoins, with the first withdrawals scheduled for tomorrow.

The cryptocurrency exchange OKX is strategically leveraging the current surge in memecoin popularity by introducing prominent Solana-based memecoins such as Dogwifhat (WIF) and Cat in a Dog’s World (MEW).

According to an official announcement from OKX, spot trading for WIF and MEW has commenced. Users of the platform are now able to deposit WIF and MEW tokens to initiate trading against the Tether stablecoin.

As per the announcement, WIF spot trading commenced at 9:00 am UTC on April 15, followed by MEW spot trading one hour later. Withdrawals for both tokens are slated to begin at 10:00 am UTC on April 16, as indicated by OKX.

WIF and MEW represent rapidly expanding memecoins, with daily trading volumes reaching millions of dollars. Both tokens are built on the Solana blockchain, which has outpaced competing networks like Ethereum and Avalanche in terms of network activity and adoption, driven by the prevailing memecoin frenzy.

Launched in November 2023, Dogwifhat (WIF) has emerged as one of the leading memecoins, achieving a position among the top 50 coins by market capitalization by the first quarter of 2024, with a valuation nearing $50 billion.

As of the time of this writing, WIF ranks as the 42nd largest cryptocurrency by market capitalization and stands as the third-largest memecoin, following in the footsteps of Elon Musk’s favored memecoins, Dogecoin and Shiba Inu, according to data sourced from CoinGecko. The token is currently trading at $3, reflecting a 13% increase over the past 24 hours.

Meanwhile, the newly introduced Cat in a Dog’s World, or MEW, cryptocurrency made its official debut on March 26, aiming to challenge the dominance of dog-themed memecoins such as DOGE, SHIB, and WIF.

At present, MEW is trading at $0.0052, marking an 80% surge over the past 24 hours, as reported by CoinGecko data.

These newly listed memecoins join OKX‘s existing roster of approximately 20 memecoins available for trading, as stated on the exchange’s official website.