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- Lookonchain reveals a massive profit from selling 14.53 million Dogwifhat tokens.
- Solana’s network performance is crucial for Dogwifhat’s future.
In a recent tweet, Lookonchain revealed that five wallets, possibly owned by the same person, sold 14.53 million Dogwifhat tokens (WIF) worth $24 million just a few hours ago.
Astounding Returns: $5,340 Investment in WIF Turns into Potential $69 Million Profit
Surprisingly, this individual got 14.53 million WIF on November 30, 2023, for a modest $5,340. This transaction generated a whopping 4,497 times the return on investment. If the sale had been done at the highest price level, the profit would have exceeded $69 million, indicating an amazing 12,927-fold return.
5 wallets(may belong to the same person) sold 14.53M $WIF($24M) 7 hours ago!
Incredibly, this guy bought 14.53M $WIF on Nov 30, 2023, and the cost was only $5,340!
He got a 4,497x return!
If he sold at the highest price, he would have made a profit of more than $69M, a 12,927x… pic.twitter.com/Of1kpEwOze
— Lookonchain (@lookonchain) August 3, 2024
At the time of writing, the Dogwifhat token has been locked in a bearish trend for the past few days, trading at roughly $1.68 after falling 11.39% over the last 24 hours.
Despite this slump, CNF recently highlighted favorable views from analysts who believe that if the memecoin market recovers, WIF, along with other popular meme coins such as PEPE and MEW, has the ability to revive and skyrocket once more.
The success of the Solana network is expected to be a critical aspect in the recovery of this dog-themed meme cryptocurrency, especially as the market is challenged by the US central bank’s failure to decrease interest rates.
According to our prior report, another analyst has forecast that Dogwifhat will approach and surpass the $2.5 level. Of course, given its current position, breaking past the $2 barrier is critical to realizing this bullish projection.
The current market conditions for Dogwifhat demonstrate the volatility of cryptocurrency investments, particularly those in the memecoin sector.
The most recent transaction made public by Lookonchain serves as an example of how investors who can manage these oscillations and make timely decisions stand to benefit greatly. As the market evolves, the opportunity for significant gains exists, as long as important support and resistance levels are identified and acted upon.
