Whale investors have taken notice of Dogwifhat (WIF), a well-liked Solana meme currency. They identified a chance to make money off of the Solana network’s meme coin craze.
Lookonchain reports that 12 new wallets that seem to be “insiders” made enormous gains on their recent WIF purchases—roughly 770 ETH. Other investors went into a purchasing frenzy in an attempt to ride the wave and sell at a higher price.
With just 1.6 ETH, or $3,694, 12 new wallets profited by 770 ETH, or $1.77 million, on Dogwifhat, according to Lookonchain. It further states that these wallets were made yesterday, the same day the deployer started trading, and they were used to purchase Dogwifhat.
https://x.com/lookonchain/status/1753840216434167910?s=20
Twelve minutes later, other customers began purchasing Dogwifhat. Lookonchain claims that these 12 wallets purchased 24 million Dogwifhat for 1.6 ETH ($3,694) and sold 15 million Dogwifhat for 771.86 ETH ($1.78 million). There are still 8.65 million WIF, or $838,000, in these wallets.
Since its launch, Dogwifhat (WIF) has seen an incredible journey, increasing by almost 20,000% in a very short period of time. Dogwifhat (WIF) hit an all-time high of $0.4625 on January 18, 2024.
The token’s link with a picture of a dog donning a hat and the “wif hat” slang term that has proliferated in the cryptocurrency community account for a large portion of its memetic value.
Following early investors’ profits on their substantial gains—including some who won millions of dollars from a little first investment—Dogwifhat has dropped from its recent highs.
Up till the time of publication, WIF has dropped 10.2% to $0.2234 during the previous day. The price as of right now is 51.64% less than the peak. In addition, the price as of right now is 14,287.04% higher than the record low of $0.001555, which was reached on December 13, 2023.
