There has been a notable rise in the price of Solana-based meme coin Cat in a Dogs World (WIF). The Solana-based token gained approximately 14% in value after listing on the famous cryptocurrency exchange. South Korean crypto exchange Upbit announced that the token will be traded on the Korean Won (KRW) pair. This decision increased market activity as MEW achieved similar success as the third meme coin after DOGE and SHIB.
Parity Listing on Upbit
According to the official statement made by Upbit on October 21, Cat in a Dogs World has KRW parity as of today. Users began trading the MEW/KRW pair as of 16:00 UTC today.
The South Korean crypto exchange stated that deposits and withdrawals can be made via the Solana network. It was also emphasized that deposit and withdrawal transactions will only be made through personal wallet addresses and ownership confirmation must be completed. This listing opened the door to more liquidity for WIF Coin, expanding trading opportunities in the Asian market.
Increase in Price and Trading Volume
MEW price is up 14% in the last 24 hours and is currently trading at $0.009561. The lowest and highest prices of the coin during the day were recorded as $0.008382 and $0.01043 respectively. Following the listing announcement, the coin’s intraday trading volume increased by 370% to $358.26 million.
Market watchers expect further increases in MEW’s value post the listing announcement. Last month, Upbit’s listing in BTC and USDT parities also caused a price increase.
According to Coinglass data, the total open positions of the Solana-based coin in futures increased by 16% today, reaching $165.43 million. Additionally, derivatives volume increased by 302% to $1.32 billion, raising market hopes. With today’s price increases, it appears that MEW is currently in an uptrend.
Finally, MEW’s listing on a major exchange has increased interest in the coin, especially in the Asian market, and opens up new opportunities for investors. This may contribute to the adoption of MEW by a wider range of users in the cryptocurrency market.
MEW’s listing and price increase show that meme coins have gained an important place in the cryptocurrency market. Supporting such coins by major exchanges such as Upbit can help increase liquidity in the market and ensure investor confidence. For investors, MEW offers potential growth opportunities, while other exchange-backed meme coins may receive similar attention.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
