Biggest Dogwifhat Whale with $68M in Profits Doubling Down on WIF
The post Biggest Dogwifhat Whale with $68M in Profits Doubling Down on WIF appeared on BitcoinEthereumNews.com.
The cryptocurrency market is heating up, and Memecoins are leading the charge. Among them, Dogwifhat (WIF) is standing out with an impressive price rally. Over the past week, WIF has surged by 17.69%, catching the attention of many investors. What’s even more intriguing is the move by the largest Dogwifhat (WIF) holder. This major player, who has already earned over $68 million in profits, is now doubling down on its investment. Recent Investments in Kamino and WIF As per Lookonchain, in the past three days, the largest holder of WIF deposited 21.9 million WIF tokens, worth approximately $35.48 million, into the Kamino platform. Following this, the whale borrowed 3.24 million USDC and used 2.7 million USDC to purchase around 1.8 million more WIF tokens. This action indicates a strong belief in the token’s future performance. This whale’s history with WIF shows a pattern of strategic buying. Between December 13 and 15, 2023, the investor spent $226,000 to acquire 19.86 million WIF tokens at a mere $0.0114 each. Additionally, they registered a domain named “binance-insider.sol” and made a single, massive purchase of 17.23 million WIF using 86,738 SOL, valued at $8.92 million. Whale Current Holdings Currently holding 27.2 million WIF tokens, valued at $44.36 million, this whale’s total profit from their WIF investments exceeds $68 million, as reported by Lookonchain. Their ongoing accumulation and long position suggest that they anticipate further growth and profitability for WIF, drawing attention from other market participants. Dogwifhat (WIF) Price Action Looking at the daily price action of Dogwifhat (WIF), the cryptocurrency has found strong support at $1.797 This level is important because WIF has tested it twice and successfully bounced back on the third attempt. However, to push WIF above the $2.3119 level, buyers need to show more interest. Meanwhile, data from Coinglass shows that…
Filed under: News - @ August 24, 2024 11:18 am