Forget Dogecoin, Shiba Inu: This Dog Coin Jumped 25% After A Shock Exchange Listing

Dogwifhat (CRYPTO: WIF) has surged more than 25% after South Korea’s largest crypto exchange Upbit announced a token listing.

Upbit Opens WIF To Korean Market

Upbit revealed plans to list dogwifhat on May 6, sparking massive reactions within the crypto community. 

The token is now available for trading in KRW, BTC, and USDT pairs, opening it to a massive new audience in one of the world’s most active crypto markets.

Users can start trading WIF at 16:00 KST today.

The Solana (CRYPTO: SOL)-based meme coin inspired by a viral image of a Shiba Inu wearing a pink knitted hat is now accessible to millions of Korean traders.

Upbit pointed out that deposits and withdrawals are supported only on the Solana network, warning users to check the network before depositing digital assets.

Why Upbit Listings Matter For Meme Coins

Upbit listings have historically acted as a catalyst for meme coins, providing liquidity, visibility, and massive buying pressure. 

The exchange gives tokens immediate access to South Korea’s highly active retail trading community.

The listing comes amid bullish momentum in the broader crypto market, with Bitcoin crossing $82,000 and risk appetite returning across altcoins.

The Technical Setup

Dogwifhat is printing a sharp reversal candle today, trading near $0.2183 after tagging an intraday high of $0.2624 before retracing. 

After a relentless downtrend from September’s $0.75 highs, this is the first meaningful bullish candle that breaks above the descending channel resistance.

The ascending wedge base forming since February between $0.17 to $0.22 has now been breached to the upside. Supertrend flipped bullish at $0.1839, the first bullish signal in months.

However, the EMA stack remains heavily bearish. The 100 EMA at $0.2263 and 200 EMA at $0.3368 represent significant overhead resistance zones that will not flip easily.

Support sits at $0.19 to $0.194. Resistance clusters at $0.226 to $0.230. This looks like early-stage recovery, not full reversal. Confirmation requires a daily close above $0.2263.

The Upbit listing provides the catalyst WIF needed to break its months-long downtrend.

Image: Shutterstock

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