In the midst of a turbulent cryptocurrency market, the dogwifhat (WIF) whale has captured significant attention following its latest investment. According to on-chain analytic firm Lookonchain, a whale wallet address B3qNt spent $4.2 million USDC and purchased over 1.4 million WIF tokens at an average price of $2.99.

Whale buy 1.4 million WIF

This significant investment in WIF during this unpredictable market has shocked everyone. However, this whale is an active WIF trader and has, until now, made a total profit of over $8 million. It has purchased WIF tokens three times, and each time it has made a massive profit. Its first WIF purchase was at the $0.17 level, which it sold for an average price of $1.5. Later, as more investors jumped in, this whale again purchased WIF near the $2 mark and sold it for over $3.2.

The whale’s track record suggests that there may be lucrative opportunities driving whales’ investments in WIF. Furthermore, this recent move has sparked speculation about the potential for further growth in the WIF token.

However, currently, the WIF token is trading near $3.2, and in the last 24 hours, it has experienced over an 11% upside momentum. If we look at the performance of WIF over a longer period, in the last 7 days, WIF tokens have seen a price surge of over 14%. Whereas, in the last 30 days, due to lots of uncertainty in the market, WIF’s price experienced over a 7% downside momentum.

WIF technical analysis and key levels

According to expert technical analysis, the WIF token in a 4-hour time frame looks bullish as it is trading above the 200 EMA (Exponential Moving Average). However, if WIF on a daily time frame gives a daily candle closing above the $3.4 level, then there is a high chance that it will hit the $4.8 level. Whereas, WIF’s $3.38 level is a strong resistance zone that may create a hurdle or might get reversed, but if the market sentiment remains bullish, then there is a high chance that WIF will break this hurdle and surge massively.

Besides WIF, at the time of writing, the majority of top meme coins are experiencing bullish momentum and have experienced a decent price surge in the last 24 hours. Top meme coins including DOGE, SHIB, BOME, and PEPE experienced price surges of 2.5%, 2%, 8%, and 2.5% respectively. Whereas, top cryptocurrencies like Bitcoin, Ethereum, and Solana also experienced upside momentum.