Date: Fri, August 23, 2024, 01:12 PM GMT
The cryptocurrency market is heating up, and Memecoins are leading the charge. Among them, Dogwifhat ($WIF) is standing out with an impressive price rally. Over the past week, $WIF has surged by 15.69%, catching the attention of many investors.
But it’s not just the price increase that’s making headlines. The largest holder of $WIF, who has already racked up over $68 million in profits, is doubling down on his bet. According to analysis from Lookonchain, this whale is not just sitting on his profits; he’s actively buying more $WIF and going long.
In the last three days alone, this investor deposited 21.9 million $WIF, valued at $35.48 million, into Kamino, a popular DeFi platform. He then borrowed 3.24 million USDC, using some of those funds to purchase an additional 1.8 million $WIF for 2.7 million USDC.
This isn’t the first time this whale has made a bold move. Last December, he spent $226,000 to buy 19.86 million $WIF at a price of just $0.0114 per token. He even registered a domain called “binance-insider.sol” and used a massive 86,738 SOL ($8.92 million) to buy 17.23 million $WIF in a single transaction.
Now, with a current holding of 27.2 million $WIF worth $44.36 million, this whale’s total profit has soared to more than $68 million. And with his continued buying spree, it looks like he’s far from done.
As $WIF continues its upward trajectory, all eyes are on this massive holder and his next move. Will his confidence in $WIF pay off even more, or is the market due for a correction? Only time will tell, but for now, the $WIF whale is all in.