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Dogwifhat (WIF) has surged more than 25% after South Korea’s largest crypto exchange, Upbit, announced a token listing.
Upbit opened WIF to the Korean market, revealing plans to list dogwifhat on May 6, triggering a strong reaction across the crypto community. The token is available for trading against KRW, BTC, and USDT pairs, expanding access to one of the world’s most active crypto trading markets.
Users can begin trading WIF at 16:00 KST today. The Solana-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 also noted that deposits and withdrawals are supported only on the Solana network, urging users to confirm the network before transferring digital assets.
Upbit listings have historically acted as a catalyst for meme coins by improving liquidity, increasing visibility, and driving buying pressure. By adding tokens to South Korea’s highly active retail trading community, listings can accelerate demand and broaden market participation.
The announcement arrives as broader crypto markets show bullish momentum, with Bitcoin crossing $82,000 and risk appetite returning across altcoins.
Dogwifhat is showing a sharp reversal move, trading near $0.2183 after tagging an intraday high of $0.2624 before retracing. Following a downtrend that began after September’s $0.75 highs, this is described as the first meaningful bullish candle that breaks above descending channel resistance.
The article also points to an ascending wedge base forming since February between $0.17 and $0.22, which has now been breached to the upside. Supertrend reportedly flipped bullish at $0.1839, the first bullish signal in months.
Despite the improvement, the EMA structure remains heavily bearish. The 100 EMA at $0.2263 and the 200 EMA at $0.3368 are cited as major overhead resistance levels that may be difficult to overcome.
Support is identified at $0.19 to $0.194, while resistance is clustered at $0.226 to $0.230. The move is characterized as early-stage recovery rather than a confirmed full reversal, with confirmation requiring a daily close above $0.2263.
The Upbit listing is presented as the catalyst WIF needed to attempt a break from its months-long downtrend, supported by the exchange’s expanded access to Korean spot markets and the associated increase in liquidity and visibility.
