Date: Sun, August 25, 2024, 03:40 AM GMT
The cryptocurrency market is heating up this week, with Memecoins leading the charge. Among them, Dogwifhat $WIF is stealing the spotlight with a staggering 34.52% price surge over the past seven days.
Whatâs even more impressive is the activity of the largest WIF holder, whoâs making headlines with bold moves and massive profits. According to a recent tweet by Lookonchain, this whale, already sitting on a $77 million profit, is doubling down on WIF and buying even more.
In a recent purchase, the whale spent 1.54 million USDC to buy 800,556 WIF at $1.92 per token, further solidifying their position. This brings their total holdings to an eye-popping 28 million $WIF, valued at $53.23 million.
Source: Lookonchain X
But thatâs not all. Earlier this week, this investor made waves by depositing 21.9 million $WIF, worth $35.48 million, into Kamino, a popular DeFi platform. They then borrowed 3.24 million USDC against this deposit and used a portion of those funds to buy an additional 1.8 million WIF for 2.7 million USDC.
The whaleâs continued confidence in $WIF, even after such significant gains, is fueling speculation that this rally could have more room to run. As they keep buying, the market is watching closely, wondering just how high WIF can go.
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