Memecoin’s Biggest Investor Earns $68 Million and Still Buying
The investor who holds the most Dogwifhat (WIF) tokens continues to grow his wallet.
Dogwifhat, a memecoin based on Solana (SOL), ranks fourth among memecoins with a market cap of $1.63 billion, according to CoinGecko data. The WIF price is up 3 percent on the day and 9.6 percent on the week, and is currently hovering around $1.63.
According to blockchain analytics platform Lookonchain, the investor with the largest amount of WIF invested 21.9 million WIF ($35.48 million) in Kamino and borrowed 2.61 million USDC.
Over the past three days, the investor used these stablecoins to buy approximately 1.8 million more WIF at $1.50 each.
Earned around $70 million
This investor spent around $226,000 to buy a total of 19.86 million WIF between December 13-15, 2023, for just $0.0114 each.
The investor, who later acquired the domain name “binance-insider.sol” on the Solana network, spent 86,738 Solanas ($8.92 million) to buy 17.23 million WIF in a single transaction.
According to Lookonchain records, the whale still has 27.2 million WIF ($44.36 million) in his wallet. This address, whose identity is unknown, earned more than $68 million thanks to the memecoin investment.
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