Crypto News –Dogwifhat price experienced a brief but staggering surge of 1,450% on Bybit, immediately following its listing on the exchange.
Bybit Listing Sends Dogwifhat Price Soaring 1,450% in Brief Spike
Trading of the token commenced at 8:50 a.m. ET, and within just over 10 minutes, its price skyrocketed from $2.70 to a peak of $41.85. However, this exceptionally high price level was short-lived, lasting only a few minutes before retracing back towards the broader market price.
Notably, this surge seems to have been confined to Bybit, as there was no impact on prices on Binance, which facilitates a significant portion of the token’s trading volume on centralized exchanges, according to data from CoinGecko.
As of publication time, Bybit has since aligned with the broader market, with the token trading down 3.5% at $2.64.
Dogwifhat gained traction as a memecoin featuring the whimsical image of a dog donning a hat. Amidst the recent memecoin trading frenzy, characterized by notable gains in tokens like Pepe, Bonk, and Book of Meme, Dogwifhat garnered significant attention. The coin received substantial backing from prominent traders such as Hsaka, boasting over half a million followers, as well as key influencers like Ansem.
Moreover, supporters of Dogwifhat rallied together to raise $700,000 for the token’s image to be displayed on the Las Vegas sphere for a week. However, it remains uncertain whether or when this initiative will come to fruition.
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