He Received WIF of 5 Thousand Dollars, Doubled His Money by a Thousand and Earned 7 Million Dollars

A memecoin investor made a profit of $7 million with 1,197 times earnings on the rise of dogwifhat (WIF).

Dogwifhat is a Solana-based memecoin that represents an iconic Shiba Inu dog with a hat.

According to CoinGecko data, WIF has gained 40% in value over the last 30 days and today, it briefly rose above $4. WIF broke its own price record on March 31 at $4.83.

WIF was launched in November 2023, and a trader who follows the markets closely spent $5,879 to buy a total of 6.1 million WIF on December 8.

Taking advantage of the periods when the WIF price increased, the trader sold 4.7 million WIFs so far and earned 1.57 million dollars.

The trader, who still kept 1.4 million WIF in his wallet, earned approximately $7 million in total.