Dogwifhat (WIF), a Solana-based meme coin, saw a sharp price increase on Monday following its listing on Robinhood Crypto. The token now joins a select group of 20 cryptocurrencies available on the platform, including Dogecoin (DOGE), the leading meme coin by market capitalization.
WIF’s Meteoric Rise
Over the past year, WIF has grown from obscurity to achieving a market capitalization of over $3.28 billion. After the Robinhood announcement, WIF’s price surged 7% in seconds, peaking at $3.47 before stabilizing at $3.35—still up 7% over the last 24 hours.
Robinhood’s Changing Approach to Crypto
Robinhood’s listing of WIF signals a shift in its traditionally cautious stance toward cryptocurrencies. In recent years, the platform reduced its crypto offerings, partly in response to heightened regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC).
However, following Donald Trump’s re-election, which is expected to usher in relaxed crypto regulations, Robinhood has embraced a more liberal listing strategy. This shift began with the recent reintroduction of Solana (SOL) and other meme coins to the platform.
More Meme Coins on the Horizon?
Speculation is mounting that Robinhood may soon list additional meme coins, including BONK, another popular dog-themed token on the Solana blockchain. A Robinhood-linked wallet reportedly created accounts for both WIF and BONK, though the company has not confirmed its plans.
