Can Upbit listing keep Dogwifhat’s WIF rally alive?

South Korea’s Upbit has added Dogwifhat to its spot markets, giving the Solana-based memecoin access to Korean won, Bitcoin, and USDT trading pairs.

The exchange notice, published on May 6, said WIF trading support would cover KRW, BTC, and USDT markets. The listing gives Dogwifhat wider access to one of Asia’s most active retail crypto markets.

Upbit said Dogwifhat deposits and withdrawals would use the Solana network only. Users were asked to check the network and token contract before sending funds.

The notice listed the supported WIF contract as EKpQGSJtjMFqKZ9KQanSqYXRcF8fBopzLHYxdM65zcjm. Upbit also said unsupported deposits may need a refund process, which could take time.

The exchange added normal early-trading controls. Buy orders were restricted for about five minutes after trading began. Upbit also limited some sell orders and restricted order types for about two hours.

These controls are common around new listings. They aim to reduce unstable order flow when liquidity is still forming.

WIF price rises after listing

Dogwifhat (WIF) traded higher after the Upbit announcement. Crypto.news price data showed WIF at $0.241142 on May 6, up 25.35% over 24 hours.

The same data showed WIF had a 24-hour trading volume of $217.36 million and a market cap of $240.9 million. The token also gained 33.73% over seven days.

The Upbit listing pushed WIF closer to that watched range. However, the token remains far below its 2024 peak. Crypto.news data showed Dogwifhat’s all-time high was $4.83 on March 31, 2024.

Dogwifhat remains a high-risk memecoin

Dogwifhat is a memecoin issued on Solana. It is based on an internet image of a Shiba Inu wearing a pink knitted hat.

Upbit described WIF as a community-based meme token. That claim should be viewed with caution, as memecoins often depend on social attention rather than clear business use.

The exchange also warned that digital assets can see rapid price changes. This is relevant for WIF because new exchange listings can attract short-term trading.

A previous Crypto.news report on Solana memecoin trading showed why risk remains high. Pump.fun data showed 49% to 50.6% of tracked wallets lost money in March 2026.

Listing adds to earlier WIF market access

Dogwifhat has already appeared on major trading platforms. Crypto.news previously reported that Robinhood listed WIF in November 2024, while Coinbase later expanded WIF trading to New York users.

However, the token has also faced past doubts. Earlier coverage noted scrutiny around a delayed Las Vegas Sphere campaign linked to Dogwifhat supporters.