Dogwifhat (WIF), a meme coin on the Solana blockchain, experienced an unexpected price movement shortly after its listing on popular crypto exchange Bybit.
Bybit listed WIF on April 29th. Approximately 10 minutes after the listing, WIF price surged by 1,450%, skyrocketing from $2.70 to $41.85.
The sudden and exciting rally was short-lived, and the price returned to its normal trend within approximately 1-2 minutes.
While the exact cause of this sudden price movement remains unclear, the 1,450% increase was limited to Bybit only. WIF price did not reach $41.85 on Binance or other cryptocurrency exchanges.
Similar movements have been observed in the past, especially for altcoin prices, due to low trading volume on some cryptocurrency exchanges.
According to CoinGecko data, WIF, which has risen by 0.3% in the last 24 hours, is trading at $2.64 at the time of writing.