Users of Robinhood‘s European crypto platform can trade with the newly-added memecoin, dogwifhat (WIF), a Solana-based token, which gained recognition alongside Bonk (BONK) and other tokens during a wave of interest in meme coins on the network in December 2023.

While Robinhood did not issue a formal announcement regarding WIF, the token now appears on the list of supported assets for trading on Robinhood Crypto Europe. Amid the move, the price of WIF soared by nearly 7%, reaching $0.85, according to data from CoinMarketCap

Since its launch in December 2023, the memecoin, featuring an image of a developer’s dog donning a knitted hat, has witnessed an extraordinary surge of over 50,000% in value. The frenzy surrounding WIF has attracted the attention of crypto exchange Binance, prompting the platform to launch futures trading for WIF with leverage of up to 50x.

Robinhood expanded its crypto services to the European Union in early December 2023, marking a continuation of the digital brokerage’s global expansion beyond the U.S. market. Johann Kerbrat, general manager of crypto at Robinhood Crypto, indicated that the decision to enter the European market reflects the region’s commitment to developing “one of the world’s most comprehensive policies for crypto asset regulation.”

Source