Dogwifhat soars after Coinbase announces plans to list the memecoin

The Solana-based memecoin Dogwifhat (WIF) spiked Wednesday afternoon after the crypto exchange giant Coinbase noted plans to list the asset.

Coinbase updated its asset listing roadmap to include WIF, which jumped about 21% around the time of Coinbase's announcement , The Block Prices show.

If liquidity conditions are met, WIF will trade on Coinbase on or after 3:30 p.m. ET (20:30 UTC) today, Coinbase wrote on the social media platform X.

"Once sufficient supply of this asset is established trading on our WIF-USD trading pair will launch in phases. Support for WIF may be restricted in some supported jurisdictions," it stated.

WIF is another memecoin to surge due to the listing plans of major crypto exchanges. Earlier Wednesday, the crypto-friendly brokerage firm Robinhood said it listed PEPE, and Coinbase mentioned it also intended to add the asset. PEPE soared 30% after the announcements.

WIF trades at $4.13 as of 2:32 p.m. ET (19:32 UTC) on Nov. 13. The token drew in $3.9 billion in volume in the past 24 hours. The GMCI Meme index is up 5.2% to 496.24.

Dogwifhat is the 31st largest cryptocurrency by its market capitalization of $4.1 billion, falling beneath Cronos ( CRO ) of $4.6 billion and Uniswap ( UNI ) of $5.2 billion.