Memecoin Whale in Solana Deposited Million Dollars, Price Rises 20 Percent

The person who invested in the dogwifhat (WIF) memecoin on the Solana network in the early period and earned millions is making purchases again.

According to the data of the Blockchain analysis platform Lookonchain, the memecoin whale started to receive WIF piece by piece yesterday evening (GMT+3).

Dogwifhat made millions

According to Solscan data, WIF investors first started buying on December 9 and 13. He bought 3.58 million dogwifhat (WIF) for just 21 thousand dollars.



Dogwifhat was inspired by a meme of a Shiba Inu dog wearing a pink hat. Solana (SOL) based memecoin recently dropped to $1.55 after rising to $4 at the end of last month.

The Memecoin whale swelled his wallet by purchasing 938 thousand 434 WIFs yesterday. Following these purchases, dogwifhat price has increased by more than 20% in the last 24 hours. The whale has 3.97 million WIF worth $7.51 million in its wallet.

Transaction volume is growing

Trading volume in Dogwifhat's derivatives and spot markets has started to rise in the last few days. According to CoinGlass data, trading volume in derivatives markets grew by 114% and reached $1.98 billion.

Of this, $1.11 billion came from Binance and $399.9 million came from Bybit exchanges. Following the rise in WIF price, more than $300 thousand short positions were liquidated today.