Whale Buys, Popular Meme Coin Price Starts to Rise

One of the most popular meme coins in the cryptocurrency market has made another investor a millionaire.

An altcoin whale spent 4.2 million USDC to buy 1.4 million dogwifhat (WIF) overnight, according to blockchain analysis platform Lookonchain.

According to CoinGecko data, the meme coin market has a total value of $54 billion. Solana-based dogwifhat entered the market in November 2023 with a Shiba Inu theme. Dogwifhat is the fourth largest meme coin with a value of $3.2 billion alone.

According to Lookonchain data, this whale spent approximately $2.99 per WIF. According to TradingView data, WIF gained 3% on a daily basis and rose above $3.2.

Past transactions show that this whale invested in WIF early on and earned more than $8 million through WIF.