We are thrilled to share that dogwifhat (WIF) is now listed on Coinhako.
What is WIF?
A popular meme coin built on the Solana blockchain, dogwifhat launched on 20 November 2023 and gained instant popularity due to its unique identity: a Shiba Inu wearing a pink hat. This crypto has no utility — the creator has stated on the website that it is “literally just a dog wif a hat.”
Utility aside, WIF token has already outperformed prominent meme coins like Shiba Inu and Pepe Coin in terms of price gains. The community has also been extremely active, with members fundeding a campaign to project dogwifhat onto the Las Vegas Sphere.
As of 19 March 2024, it reached a market capitalisation of over US$2.9 billion and has a max supply of 998,920,173 WIF.
🚀 View WIF prices on Coinhako now
How does WIF work?
WIF is an SPL token, the token standard on the Solana blockchain not unlike what ERC-20 is to Ethereum. Other memecoins may offer staking and burn mechanisms, but dogwifhat keeps their tokenomics simple:
Fixed supply: There is a maximum supply of 998.9 million WIF tokens and no plans for further token creation.
No staking or burning: WIF keeps things simple with no ecosystem or utility functions — it is literally just a token.
Community: WIF’s community determines its value — price appreciation depends on community and market sentiment.
Why does WIF stand out?
With thousands of memecoins in the market and thousands more on the way, the success of WIF cannot be understated. Meme-based cryptocurrencies are designed to capture the attention of enthusiastic online communities with their light-hearted and fun nature, and it’s safe to say that WIF has done that spectacularly well.
In WIF’s case, timing might have also on its side — the token launched back in November just as the crypto market appeared to be turning bullish again. In addition, the honest and easy-to-understand nature of this meme is unpretentious — just a token of a dog with a hat.
What is a Memecoin?
A memecoin is a type of cryptocurrency that is inspired by or based on internet memes, popular culture references, or jokes. Memecoins often have playful or humorous branding and marketing strategies, leveraging the viral nature of memes to attract attention and build a community of supporters. These coins may also serve as a form of digital collectibles, with unique designs or themes that appeal to meme enthusiasts.
Some examples of popular Memecoins that are already on Coinhako include:
1. Pepe (PEPE): A cryptocurrency which pays homage to the well-known Pepe the Frog meme. It has served in popularity since its introduction in April 2023 and sits at a market capitalization of over $2.9 billion at this time of writing.
2. Dogecoin (DOGE): Originally started as a joke based on the popular "Doge" meme featuring a Shiba Inu dog, Dogecoin has gained a strong following and community support over the years.
3. Floki (FLOKI): Inspired by Elon Musk’s tweet, FLOKI is another meme-based cryptocurrency that features the a dog in its branding and marketing.
What can you do with WIF on Coinhako?
WIF will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment methods)
- Purchase WIF instantly with Visa / Mastercard
Please note that the sending and receiving of WIF will not be available for this release.
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.