Dogwifhat (WIF) has become a popular memecoin in the Solana ecosystem. Recently, a noteworthy transaction grabbed attention: someone, possibly using five different wallets, sold 14.53 million WIF tokens and turned an initial investment of $5,340 into $24 million.
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Although Dogwifhat’s market cap has dropped from $3.5 billion to $1.612 billion due to a recent market decline, the trader’s profit at its peak could have reached $69 million, giving a stunning 12,927 times return on investment.
Remarkable Return: Trader Turns $5,340 into $24M with Dogwifhat (WIF)
Lookonchain, a prominent blockchain analytics firm, has reported a remarkable transaction involving five wallets that may belong to a single individual. The buyer initially acquired 14.53 million Dogwifhat (WIF) tokens on November 30, 2023, for just $5,340.
Lookonchain_Source: X
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The buyer later sold these tokens for approximately $24 million, achieving an extraordinary 4,497 times return on their initial investment. Even more impressive is that if the tokens had been sold at their peak price, the profit could have soared to over $69 million, representing a staggering 12,927 times return.
Recent Changes in Dogwifhat (WIF) Price and Market Activity
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In the past 24 hours, Dogwifhat (WIF) has experienced notable price fluctuations. The price dropped to $1.61 before rising to $1.94. Currently, WIF is trading at $1.68, marking an 11% decline from its recent peak. Over the past week, WIF has fallen by 33%.
The Open Interest for Dogwifhat has decreased by 10% to $266 million in the last day. Despite this, trading volume surged by 40% to $1.51 billion, indicating that the downward trend might not persist.
The market cap of WIF, which had previously reached $3.5 billion, is now down to $1.612 billion. There are 998,906,016 WIF tokens currently in circulation.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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