Date: Fri, August 23, 2024, 01:12 PM GMT

The cryptocurrency market is heating up, and Memecoins are leading the charge. Among them, Dogwifhat $WIF is standing out with an impressive price rally. Over the past week, WIF has surged by 15.69%, catching the attention of many investors.

But it's not just the price increase that's making headlines. The largest holder of $WIF, who has already racked up over $68 million in profits, is doubling down on his bet. According to analysis from Lookonchain, this whale is not just sitting on his profits; he's actively buying more WIF and going long.

Source: Lookonchain

In the last three days alone, this investor deposited 21.9 million WIF, valued at $35.48 million, into Kamino, a popular DeFi platform. He then borrowed 3.24 million USDC, using some of those funds to purchase an additional 1.8 million WIF for 2.7 million USDC.

This isn't the first time this whale has made a bold move. Last December, he spent $226,000 to buy 19.86 million at a price of just $0.0114 per token. He even registered a domain called "binance-insider.sol" and used a massive 86,738 SOL ($8.92 million) to buy 17.23 million WIF in a single transaction.

Now, with a current holding of 27.2 million WIF worth $44.36 million, this whale's total profit has soared to more than $68 million. And with his continued buying spree, it looks like he's far from done

As WIF continues its upward trajectory, all eyes are on this massive holder and his next move. Will his confidence in WIF pay off even more, or is the market due for a correction? Only time will tell, but for now, the WIF whale is all in.

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