As a seasoned analyst with years of experience navigating the volatile world of cryptocurrencies, I must say that the recent moves by the largest holder of Dogwifhat (WIF) have caught my attention. The sheer scale of this player’s investments and profits is nothing short of impressive.
Over the past couple of days, there’s been quite a bit of excitement surrounding dogwifhat (WIF), a meme-based cryptocurrency that has dominated the meme coin market and the entire Solana ecosystem this year. According to Lookonchain, the individual with the most WIF, amassing over $68 million in profits, is actually increasing their investment and holding onto the meme coin for the long term.
Yesterday, I added approximately $35.48 million worth of WIF to Kamino, Solana’s primary lending platform, and simultaneously borrowed 3.24 million USDC. Subsequently, this anonymous high-roller used around 2.7 million USDC to purchase roughly 1.8 million WIF.
As a crypto investor, I couldn’t help but notice the recent moves of a significant player in the market. This whale didn’t slow down and invested 1.54 million USDC to acquire an additional 800,556 WIF at around $1.92. Now, this whale is sitting on a massive 28 million WIF, which translates to a whopping $53.23 million. The profits from their dogwifhat investments have surpassed an astounding $77 million!
Dogwifhat (WIF) price outlook
In the period from December 13 to December 15, 2023, this whale invested approximately $226,000 to acquire nearly 19.86 million WIF tokens at a price of around $0.0114 each. Later on, they also purchased 17.23 million additional WIF tokens for roughly $8.92 million by buying a domain from “binance-insider.sol” and spending 86,738 SOL.
It’s interesting to point out that the value of Dogewhale cryptocurrency has risen by approximately 38.32% since the start of this week. Examining its weekly price chart, we can observe that the $1.3 area has frequently functioned as a robust support level for the meme coin’s quotes in recent weeks and months.
It’s not unexpected that major cryptocurrency market participants chose to invest in WIF now, given that it aligns with historical patterns suggesting this could be the lowest point locally.
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2024-08-25 17:35