Dogecoin Rival WIF Jumps After Robinhood Launches Surprise Trading Support

A Dogecoin (DOGE) rival has rallied after suddenly being listed on retail trading giant Robinhoods platform.

In a new announcement, Robinhood says that the dogwifhat (WIF) is available for trading on Monday.

Amid the news, the memecoin soared to a high of $3.62, up from Sundays low of $3.06. WIF has settled down to $3.24 at time of writing, up 4.7% in the last 24 hours.

With a market cap of $3.2 billion, the Solana (SOL)-based memecoin is the 49th largest crypto project.

Earlier this month, top US-based crypto exchange platform Coinbase announced support for WIF, which launched less than a year ago in December 2023 as a community-driven memecoin with a fixed supply. The digital asset displays the image of a Shiba Inu dog wearing a pink knitted hat.

For Robinhood, it is only the latest addition of several digital assets added to its suite of crypto trading options.

Two weeks ago, Robinhood announced it was adding smart contract platforms Solana and Cardano (ADA), memecoin Pepe (PEPE) and XRP for trading on its platform, which already included Bitcoin (BTC), Ethereum (ETH), Dogecoin, Chainlink (LINK), Avalanche (AVAX), and Aave (AAVE).

Said Johann Kerbrat, vice president and general manager of Robinhood Crypto,

“We‘ve consistently heard from our customers that they want access to more digital assets, and we’re excited to continue expanding our crypto offering. With lower barriers to entry, we believe crypto presents an opportunity for those who have been historically left behind by the traditional financial system.”