Robinhood has extended its support for big coins by listing the popular canine-themed token Dogwifhat.
Dog hat (Wi-Fi) was the second meme coin added by Robinhood in November after the Menlo Park unicorn listed the Pepe-the-Frog inspired project Pepe (PEPE). Like Pepe, the price of WIF jumped on the news. Data from crypto.news’ price pages showed an 8.2% rise less than an hour after Robinhood’s. announcement.
Dogwifhat’s market capitalization increased to $3.3 billion, the fifth largest coin in terms of valuation. Only Dogecoin (DOGE), Shiba Inu (SHIB), PEPE and Bonk (BONK) has surpassed WIF in the coin hierarchy even at the time of publication.
Robinhood’s crypto trust at ATH
WIF was Robinhood’s latest cryptocurrency addition following President Donald Trump’s re-election to the White House. The trading platform first integrated crypto trading in February 2018, but later reduced its offering of digital assets amid regulatory uncertainty.
Robinhood delisted coins like Cardano (ADA) and Solana (GROUND) in 2023. Meme Coins were generally not available on the platform as the industry held its breath over the security status of crypto.
ADA, SOL, undulation (XRP), and two pieces even were added to the exchange since Trump was declared the winner. There were also rumors that the company was considering listing BONK after PEPE and WIF.
From nothing to Vegas via Menlo Park
WIF launched over a year ago as Solana’s coin mania gathered strength and volume. Its token holders funded $650,000 in hours to promote Dogwifhat on the Las Vegas Sphere. Within months of its debut, WIF crossed the $1 billion mark and took the Solana meme coin narrative to new heights. Since then, several meme tokens have flooded centralized and decentralized crypto exchanges.
Providers like Pump.fun capitalized on the hype bandwagon, creating an easy-to-use platform that allows anyone to flip a coin in minutes.
As the meme craze grew, so did the desperation of developers looking to increase the valuation of their tokens. A meme developer set himself on fire during a live stream. The so-called degeneration evolved after Pump.fun activated its streaming feature. Reports of bestiality, coprophagy, and self-harm affected both Pump.fun users and community observers.