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- WIF’s largest holder, with over $68 million in profits, continues to increase its position in the token.
- Despite earlier declines, interest in Dogwifhat is gradually reappearing, signaling a potential market recovery.
Dogwifhat’s largest holder (WIF), which has already earned over $68 million, is increasing its stake in the same play. This whale, a major player in the WIF market, continues to express confidence in the token’s prospects.
Whale investor continues strategic accumulation with massive WIF purchases
According to Lookonchain, a few days ago, this investor made a major move by placing 21.9 million WIF in Kamino, worth around $35.48 million.
The whale borrowed 3.24 million USDC and used 2.7 million to purchase a further 1.8 million WIF. This decision demonstrates the Whale’s ongoing commitment to increasing its WIF holdings, reinforcing its long-term plan.
The largest holder of $WIF, with over $68M in profit, is buying more and going long on $WIF!
In the past 3 days, he deposited 21.9M $WIF($35.48M) into #Kamino and borrowed 3.24M $USDC, then spent 2.7M $USDC to buy ~1.8M $WIF!
This whale spent $226K to buy 19.86M $WIF at only… pic.twitter.com/4iXzJPlT8s
— Lookonchain (@lookonchain) August 23, 2024
What’s more, the whale has made similarly large migrations in the past. Between December 13 and 15, 2023, they spent $226,000 to purchase 19.86 million WIFs at a price of $0.0114 per token.
After this acquisition, they registered the domain “binance-insider.sol” and went on to buy a further 17.23 million WIFs in a single transaction, spending an astonishing 86,738 SOL, or $8.92 million.
These acts brought their total WIF holdings to a remarkable 27.2 million tokens, which are currently valued at $44.36 million. The Whale’s strategic purchases and accumulation of WIF have resulted in a cumulative profit of nearly $68 million, demonstrating its strong belief in the token’s future possibilities.
Previously, as we reported ,Dogwifhat (WIF) had encountered serious obstacles, including a sharp drop in social engagement and investor interest after the peak reached between March and April.
In August, the flow of WIF tokens increased, leading to a reduction in price and a significant deterioration in investor sentiment. However, in recent days, it seems that interest and confidence in the token are gradually increasing, which could indicate a turning point.
To add to the optimism, a well-known crypto-currency analyst recently predicted that Dogwifhat could reach $3, indicating strong bullish potential.
WIF is currently trading at $1.83, up 13.66% in the last 24 hours, with a daily trading volume of $517.30 million. Although they lag behind POPCAT, which leads the way in terms of biggest gains with an increase of over 28% over the same period, both tokens continue to dominate the meme market.
