Dogwifhat (WIF) Price Explodes: Trader Turned $310 to $3.12 Million In Just 3 Months
The post Dogwifhat (WIF) Price Explodes: Trader Turned $310 to $3.12 Million In Just 3 Months appeared first on Coinpedia Fintech News
Wow! Imagine turning $310 into a whopping $3.12 million! That’s exactly what happened in the Dogwifhat (WIF) price rally when it hit $1.25. Some traders have minted millions and got a return of a mind-blowing 10,075 times in just three months. Let’s just talk about this incredible return on investment!
Meme Season Calling!
Dogwifhat (WIF), the Solana-based meme coin, has recently made waves after being listed on Robinhood, KuCoin, and Binance Futures popular trading platforms. This move not only underscores the rising popularity of meme coins but also highlights the influence of key figures in the crypto sphere. Following this news, the coin witnessed a significant price rally, with a whale investing 9,999 $SOL, equivalent to approximately $1.34 million, attracting attention across the market.
WIF’s surge is mainly because of the current bull market, especially in meme coins. The coin made a gain of a staggering 300% over the past week, driven by the memecoin festival. Notably, one trader who initially purchased 2.58 million WIF coins for just $310 three months ago has seen their investment soar to a remarkable $3.12 million amidst the ongoing rally.
Is WIF a Good Investment?
Despite the surge in price, interest from whales in Dogwifhat remains strong. Just six hours ago, a significant transaction saw a whale invest $1.34 million to acquire 1.49 million WIF tokens, underscoring the growing interest in the coin. These big moves by whales played a part in WIF’s big price jump. However, according to Lookonchain, a Solana whale also snapped up $1.34 million worth of WIF tokens right after the Robinhood listing.
In addition to Dogwifhat’s rally, other meme coins such as Shiba Inu (SHIB) and Dogecoin (DOGE) have also seen significant gains. SHIB’s price surged by 52.85% in the last 24 hours, reaching $0.00001976, with a market cap of $11.65 billion. Meanwhile, DOGE’s rally persists, with a current increase of 18% and a remarkable 66% surge over the past week.
Current Market Snapshot
The current surge in meme coins shows the excitement from both regular and big investors. After hitting a low in January, WIF surged to a record $1 on March 1, 2024, marking a whopping 1400% increase. The Relative Strength Index was over 70% from February 26 to 29, indicating overbought conditions. Although it briefly dropped below 70%, as of March 1, 2024, it’s back above this threshold.
WIF’s pricing is up 272% since February, so what’s next? Tell us.
Filed under: Bitcoin - @ March 2, 2024 8:14 am