Date: Fri, Sept 20, 2024, 11:33 AM GMT
In the midst of a bullish rally across the cryptocurrency market, memecoins are making headlines, with Solana-based Dogwifhat ($WIF) leading the charge. The top-ranked memecoin is up by 4.91% today, racking up an impressive 17% gain over the past week. Currently, $WIF is trading at $1.81, boasting a market capitalization of $1.8 billion.
Today, Lookonchain monitoring reported that the largest holder of $WIF has made another bold move. This whale borrowed $4.5 million in USDC from Kamino to purchase 2.55 million $WIF tokens at $1.76, continuing their aggressive accumulation strategy.
This whale now holds a staggering 31.2 million $WIF, valued at $57.4 million. Their total profit so far? A whopping $74 million!
This isn’t the whale’s first major play. Between December 13 and December 15, 2023, they spent just $226,000 to buy 19.86 million $WIF at an incredible $0.0114 per token. Later, they registered the domain “binance-insider.sol” and used 86,738 $SOL ($8.92 million) to acquire an additional 17.23 million $WIF in one transaction.
With $WIF continuing to rise, this whale’s strategic moves demonstrate their confidence in the token’s long-term potential.
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