The recent price spike in dogwifhat (WIF), a Solana-based meme coin, has sparked significant interest among market participants.
Surpassing $2, WIF soared to an All-Time High of $2.225, signaling a surge in demand for the meme coin.
Today, WIF experienced another impressive 40% increase in price, attracting attention from investors and traders alike. Lookonchain’s data revealed the activity of two prominent whales who collectively invested 38,132 $SOL ($5M) to acquire 2.97M $WIF.
The $WIF price rose ~40% again today!
We noticed that 2 whales spent 38,132 $SOL($5M) to buy 2.97M $WIF!
87Hnwj spent 23,400 $SOL($3.06M) to buy 1.82M $WIF at $1.69.https://t.co/RE95o1BoJl
GjRacG spent 14,732 $SOL($1.93M) to buy 1.15M $WIF at $1.67.https://t.co/pg5mJTArvo pic.twitter.com/PD76cpBbCp
— Lookonchain (@lookonchain) March 6, 2024
One of the whales, identified as 87Hnwj, allocated 23,400 $SOL ($3.06M) to purchase 1.82M $WIF at an average price of $1.69. Similarly, GjRacG invested 14,732 $SOL ($1.93M) to acquire 1.15M $WIF at $1.67 per token.
Many Traders Are Profitable Following Surge In WIF Price Today
The surge in WIF price has resulted in substantial profits for traders, exemplified by the success story of crypto enthusiast blockgraze.
With a mere investment of 20 $SOL ($1,156), blockgraze realized an impressive gain of 3,773x, totaling approximately $4.36M in profit from WIF trading.
We found that @blockgraze made ~$4.36M on $WIF with only 20 $SOL($1,156), a gain of 3,773x!
He spent 20 $SOL($1,156) to buy 7.4M $WIF on Nov 24, 2023 (4 days after $WIF went online).
Then sold 5.06M $WIF for $1.09M, with 2.35M $WIF($3.27M) left.https://t.co/zSCaLgF0dI pic.twitter.com/klMEzjXU66
— Lookonchain (@lookonchain) March 5, 2024
Blockgraze’s journey began on November 24, 2023, just four days after WIF was introduced to the market.
With an initial investment of 20 $SOL, equivalent to $1,156, blockgraze purchased 7.4M $WIF. Subsequently, blockgraze sold 5.06M $WIF for $1.09M, retaining 2.35M $WIF valued at $3.27M.
The surge in WIF price underscores the potential for significant gains in the volatile cryptocurrency market. As investors capitalize on market opportunities, stories like blockgraze’s serve as a testament to the potential rewards of strategic investment and timely trading decisions.
With meme coins gaining traction in the crypto space, the WIF surge highlights the evolving dynamics of the digital asset market and the opportunities it presents for traders worldwide.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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