Cryptocurrency exchange OKX is capitalizing on the ongoing memecoin craze by listing rising Solana-based memecoin projects such as Dogwifhat (WIF) and The Cat in a Dog’s World (MEW). According to the announcement made on platform X, OKX has officially started the spot trading process for WIF and MEW.
OKX Team Takes a Step with Memecoins
OKX users can now deposit WIF and MEW tokens to the exchange to buy and sell these memecoin projects paired with Tether. According to the announcement, the WIF spot trading pair will open one hour after MEW spot trading operations begin on April 15th. OKX has stated that withdrawal operations for both tokens will start on April 16th.
WIF and MEW are among the rapidly growing memecoin projects, trading millions of dollars daily. Both are based on the Solana blockchain network, which is performing better in terms of network activity and adoption due to the ongoing memecoin craze, compared to rival networks like Ethereum and Avalanche.
Launched in November 2023, Dogwifhat (WIF) has emerged as one of the largest memecoin projects and entered the top 50 tokens by market value in the first quarter of 2024 with approximately $50 billion.
What’s Happening with Memecoin Projects?
As of the time this article was written, WIF, according to CoinGecko data, is the 42nd largest cryptocurrency by market value and the third largest memecoin project after Elon Musk’s favorites Dogecoin and Shiba Inu. The token was trading at $3, up about 13% in the last 24 hours.
The new Cat in a Dog’s World or MEW cryptocurrency was launched just a few weeks ago and officially hit the market on March 26th. The memecoin aims to disrupt the dominance of dog-themed memecoin projects including DOGE, SHIB, and WIF.
According to CoinGecko data, MEW was trading at $0.0052, up 80% in the last 24 hours. The newly listed memecoin projects join a range of memecoins already available on OKX. At the time of writing, the exchange was listing about 20 memecoins, including new additions, according to its official website.
