The price of dogwifhat spiked very briefly by 1,450% on Bybit, shortly after the memecoin was listed on the exchange.

Trading of the token kicked off at 8:50 a.m. ET. Just over 10 minutes later, the price of the token rose from $2.70 to as high as $41.85. The exceptionally high price lasted only for a few minutes before reverting back toward the wider market price.

The spike appears to have been limited to just Bybit. There wasn't any impact on prices on Binance, which facilitates a third of the tokens' trading volume on centralized exchanges, according to data from CoinGecko. Now Bybit has fallen in line with the rest of the market, where the token is trading down 3.5% at $2.64 at publication time.