CandleFocus Coinbase, Robinhood Users See Red as Dogwifhat Plunges $1.2 Billion in Three Days
2024-12-10
Author: Content Editor
The meme coin Dogwifhat (WIF) has experienced a significant drop in market cap, causing losses for Coinbase and Robinhood users who invested in the coin. WIF's market cap has fallen by nearly $1.2 billion over three days, with Tuesday seeing a 12% drop in price. Meme coins like WIF are highly volatile and trade on sentiment rather than fundamentals. Despite this, Coinbase and Robinhood listed WIF last month, expanding investor access to the coin. WIF had previously gained attention after a pink knitted hat was placed on New York City's Charging Bull sculpture. Decentralized exchanges are popular for meme coins, but many users still prefer centralized exchanges like Coinbase and Robinhood.
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