May 30, 2024
Altcoins News

OKX Expands Memecoin Offerings with Solana-based Tokens

Cryptocurrency exchange OKX is seizing the opportunity presented by the ongoing memecoin frenzy by listing major rising Solana-based memecoins like Dogwifhat (WIF) and Cat in a Dog’s World (MEW).

Spot Trading Begins

OKX has commenced spot trading for WIF and MEW, allowing users to deposit and trade these memecoins against the Tether stablecoin. Spot trading for WIF began at 9:00 am UTC on April 15, with MEW following suit one hour later. Withdrawals for both tokens are slated to open at 10:00 am UTC on April 16.

Solana-based Memecoins Gain Traction

WIF and MEW, both built on the Solana blockchain, have experienced significant growth, trading millions of dollars daily. Dogwifhat (WIF) has swiftly risen to become one of the top 50 coins by market capitalization, reaching nearly $50 billion in the first quarter of 2024.

Top five memecoins by market capitalization. Source. CoinGecko

The Rise of Cat in a Dog’s World (MEW)

MEW, launched on March 26, aims to disrupt the dominance of dog-themed memecoins like DOGE and SHIB. Trading at $0.0052 at the time of writing, MEW has surged by 80% over the past 24 hours.

Expanding Memecoin Selection

OKX’s listing of WIF and MEW adds to its existing array of memecoins. With approximately 20 memecoins available for trading, OKX continues to cater to the growing demand for meme-inspired cryptocurrencies.

Image from Wikimedia Commons

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