• Robinhood has listed the Solana meme coin Dogwifhat (WIF) for trading, causing its price to jump over 7%
• Robinhood is embracing a more liberal approach to crypto listings, including meme coins like WIF, likely due to the expected lax regulations under Donald Trump’s re-election
• Speculation surrounds Robinhood potentially listing another Solana meme coin, BONK, after a crypto trader discovered Robinhood-affiliated wallet activity related to BONK
Dogwifhat (WIF), a popular Solana meme coin, saw its price jump sharply on Monday after Robinhood announced it is now available for trading on the investing app in the United States. The token has been one of the biggest meme coin success stories of 2024.
WIF Price Spikes on Robinhood Listing News
WIF, which surged in value from near-zero around this time last year to a market cap above $328 billion at the time of writing, immediately jumped over 7% to hit $3.47 upon the Robinhood announcement Monday morning. It later settled back down to $3.35 but was still up 7% over the previous 24 hours.
Robinhood Embraces Meme Coins in Policy Reversal
In the past two years, Robinhood has been very cautious about which crypto assets it allows its millions of mostly stock-focused retail users to trade. However, it now appears to be embracing a much more liberal approach by adding WIF, which has no real project or value proposition behind it and has only existed for a little over a year.
Robinhood’s sudden reversal on crypto risk is likely thanks to Donald Trump‘s recent re-election, which is expected to bring more lax regulations for the crypto industry.
Conclusion
The meme coin mania continues as Robinhood embraces risky crypto tokens like WIF in the wake of Donald Trump’s election victory. More speculative coins may soon follow WIF onto the popular trading app.
