5 months ago
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The meme coin deployed on Solana experienced a bug within the exchange’s order book, prompting its price to quickly go over $41.
The meme coin Dogwifhat (WIF) price quickly surpassed $41 after being listed on the crypto exchange Bybit yesterday, as reported by the profile Degen News on X. The order was filled and sold instantly, as the chart shared in the post shows.
NEW: @solana MEMECOIN $WIF (@dogwifcoin) WICKED PAST $40 ON @Bybit_Official SHORTLY AFTER SPOT LISTING pic.twitter.com/R9qHrNGNzC
— DEGEN NEWS 🗞️ (@DegenerateNews) April 29, 2024
At the price of $41.84, WIF would have a $41.7 billion market cap, granting the spot of sixth largest crypto by surpassing USD Coin (USDC).
Even though it was something potentially caused by a bug, the WIF uncommon candle wick is a breath of fresh air for Solana meme coin investors, as all the 10 largest tokens in this category have shown losses over the past week.
Data aggregator CoinGecko shows that WIF is down 19.5% at the time of writing, while Bonk tanks 1.9%. Despite the small pullback, Bonk was showing a positive performance before the 12% correction seen in the last 24 hours.
10 largest meme coins on Solana by market cap. Image: CoinGeckoCat-themed coins MEW, POPCAT, WEN, and MANEKI are also among the largest Solana meme coins in the red, exhibiting losses of 37.2%, 11%, 29%, and 30.2%, respectively. However, the most significant drawdown from the group is shown by BODEN, which slumped 49.3% in the same period.
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