[The largest Dogwifhat whale, WIF profits double to $68 million]
The cryptocurrency market continues to heat up, led by meme coins, with Dogwifhat (WIF) performing particularly well, attracting the attention of many investors as its price surged 17.69% in the past week.
Recently, the largest WIF holders have stepped up their investments and have made over $68 million in profits. According to Lookonchain data, this large investor deposited 21.9 million WIF worth approximately US$35.48 million into the Kamino platform in the past three days and borrowed 3.24 million USDC, of which 2.7 million USDC was used to purchase approximately 1.8 million WIF, showing Strong confidence in WIF's future performance.
This major's WIF investment history shows a strategic buying pattern. In December 2023, he spent $226,000 to purchase 19.86 million WIF coins at a price of $0.0114 per coin. Additionally, he purchased 17.23 million WIF using 86,738 SOL (worth $8.92 million). Currently, the tycoon holds 27.2 million WIFs with a total value of $44.36 million, with a total profit of more than $68 million.
WIF’s daily price action shows that the coin found strong support at $1.797, having tested and successfully bounced back multiple times. To push above $2.3119, buyers will need to show greater interest.
Additionally, WIF derivatives trading volume surged 51% to $1.26 billion, with new contracts increasing 22.06% to total $232.99 million, according to Coinglass. Liquidation data showed the market was bullish, with short positions accounting for $1.07 million, outperforming longs.
