The cryptocurrency market is recovering from the tiredness of the week. After visiting below $60,000, Bitcoin made a new upward move. This move of the leading cryptocurrency also reacted positively in the rest of the market. While the market atmosphere is showing positive signals, leading crypto exchange Coinbase has announced futures for a Solana-based meme coin. With the effect of the recovery in the market, the price of meme coin started to increase.
Coinbase International will launch WIF perpetual contract!
cryptokoin.comAs you follow from , Solana-based meme coins made their mark this year. Especially dogwifhat (WIF), which we know as Dogecoin with a hat, attracted attention with explosive rises. Following this, many major stock exchanges included WIF in their lists. One of them was the leading crypto exchange Coinbase. In a recent development, Coinbase announced that it will add support for Dogwifhat (WIF) perpetual contracts on Coinbase International Exchange and Coinbase Advanced. The exchange will launch the WIF-PERP trading pair on or after April 25 at 12:30 CET. In this context, Coinbase made the following announcement:
CoinbaseIntExch will add support for dogwifhat perpetual futures trading on Coinbase International Exchange and Coinbase Advanced. The opening of our WIF-PERP will begin on or after 12:30 CET on April 25, 2024.
WIF price started to rise with the effect of the recovery in the market. Coinbase futures good news also supported this rise. Meme coin made a jump from $2.26, where it fell during the day, to $2.65. Although WIF lost a little height after its rise, it continues to trade close to these levels. At the time of writing, the WIF price was hovering around $2.59, up over 9% on a daily basis. However, the token’s trading volume decreased by 6%.
Popular analyst expects an upward move from WIF!
The analyst, pseudonymous Bluntz, says WIF may have made a local bottom when it dropped to around $1.89 over the weekend. The analyst notes that WIF’s recent price movement indicates that an upward move is coming. In this regard, the analyst said, “And here we have a nice five-wave rise from the lows and an ABC as well. I think WIF looks good here. The hats were put back on.” says.
How are Memecoins reacting to Bitcoin halving?
The countdown has now begun for Bitcoin’s halving event. Investors’ sentiment has decreased for several days due to geopolitical and macroeconomic factors. Therefore, meme coins also saw deep losses. Overall, the sell-off in the crypto market has negatively impacted high-risk assets like meme coin.
This year the meme-coin craze has pushed the tokens through the roof with a broader rally from the community. This was spurred by the approval and inflow of funds into Bitcoin ETFs, which led to all-time highs for the asset. Traders looked towards the halving for further gains as Meme coins frequently jumped with overall market sentiment. Although consistent outflows from crypto assets have diminished in the run-up to the halving, meme-coins continue to lose ground.
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