1.2 Million Dogwifhat (WIF) in Single Transfer, What’s Happening?
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Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. A Dogwifhat (WIF) whale has conducted a significant transaction that has intrigued the community. The volume of the transaction and the duration the whale held the asset have raised concerns among a segment of traders and investors alike. Profitable move amid market volatility According to Lookonchain data, the Dogwifhat whale transferred 1.2 million WIF tokens, valued at about $3.47 million, to the Coinbase exchange. This typically suggests a potential intent to trade the tokens. So far, no reason has been given for the massive transfer. Related Interestingly, the whale’s activity has made investors curious. The whale purchased 1.2 million WIF tokens just 11 months ago. The cost of acquisition back then stood at $393,000. Within less than a year of holding the tokens, they appreciated significantly to their current valuation. With this transaction, the whale has raked in $3,077,000 in profit. Analysts consider the whale’s transaction very timely and profitable. However, some argue that it could potentially drive WIF prices down in an already volatile market characterized by price fluctuations. Already, on-chain figures indicate bearish sentiment among WIF traders and investors. This has left analysts speculating about the future price trajectory of the meme coin. Price outlook and market sentiment As of this writing, WIF is exchanging hands for $2.96, up 4.7% in the past 24 hours, per…
Filed under: News - @ December 11, 2024 11:20 pm