Dogwifhat Explodes After Coinbase Listing: Is This The End or Just The Beginning?

I was just chilling and browsing through some crypto daily news when I came across something wild. Apparently, Dogwifhat (WIF), the meme coin that everyone's been talking about, surged 37% after getting listed on Coinbase. And let me tell you, it hit a peak of $4.21 - not bad for a coin that was hanging around lower levels before the listing. But this got me thinking… how many times have we seen this play out before?

Major Exchange Listings: The Pumping Machine

I mean, just look at some of the other recent coins that got listed on major exchanges. Remember Peanut the Squirrel (PNUT)? That one shot up 100% after Binance gave it a nod. And then there's The AI Prophecy (ACT) - that sucker went over 1,000% crazy! Even Neiro (NEIRO) had a jaw-dropping 7,600% rise post-listing. It’s like clockwork at this point.

What’s really interesting is that these listings seem to have an almost immediate but temporary effect on price action. Once the dust settles and if there isn’t any solid community or use-case backing it up, those prices come crashing down.

Visibility vs Sustainability

Coinbase listing? Instant credibility boost for any crypto coin out there. It’s like getting approved by the coolest club in town. More people jump in because they don’t want to miss out (FOMO), and open interest skyrockets along with trading volume.

But here’s where it gets murky – sustainability is another beast altogether. Most of these coins are basically vaporware with no real utility outside of pumping up and crashing down.

The Dark Side of Meme Coins

And let’s be real here; meme coins are a playground for market manipulation! You’ve got your classic pump-and-dump schemes right alongside wash trading and spoofing practices inflating prices only to crash them into oblivion later.

The anonymity factor also plays a huge role – many of these coins are birthed from faceless devs who could very well disappear tomorrow after pulling off a rug pull.

Emotional Rollercoaster

Investing in meme coins can be an emotional experience too! There’s something about being part of an “in” crowd that makes you feel good… until it doesn’t anymore and your portfolio is down 90%.

If you're not careful, you can end up making some impulsive decisions driven by emotions rather than rationality or research.

Summary: Proceed With Caution

So yeah, Dogwifhat's surge may just be another blip on the radar when all is said and done. Major exchange listings create massive short-term volatility but long-term? Most likely not sustainable given their lack of intrinsic value.

At the end of the day though; whether you're seasoned or green as grass in this crypto game - do your homework! Know what you're getting into cause there sure are risks involved with riding this particular wave...