A Dogwifhat investor boosts holdings to 28 million WIF, increasing profits above $77 million.
The whale's strategic buys have driven Dogwifhat's price up by 17.69% in the past week.
Crypto experts see the whale's actions as a signal for potential market growth and further price increases.
A major Dogwifhat (WIF) investor recently bought 800,556 WIF tokens at $1.92 each, spending 1.54 M USDC. This purchase brought the whale's total holdings to 28 million WIF, now valued at $53.23 million. The shareholder's profits have now surpassed $77 million.
Strategic Moves Lead to Huge Gains
The Dogwifhat whale began buying WIF tokens in December 2023. The investor purchased 19.86 million WIF at $0.0114 per token, investing $226,000. This early move set the stage for large gains as the token’s value climbed.
https://twitter.com/lookonchain/status/1827540016102568371
In addition, the whale increased holdings significantly by purchasing 17.23 million WIF using 86,738 SOL, worth $8.92 million. The whale also registered the domain "binance-insider.sol," showing a deeper involvement in the cryptocurrency world.
Recent Purchases Impact Market
On August 23, 2024, the investor added another 800,556 WIF tokens to their holdings. This was after depositing 21.9 million WIF into Kamino, a decentralized finance platform. The whale borrowed 3.24 million USDC and used 2.7 million USDC to buy 1.8 million more WIF tokens.
These moves increased the whale's total holdings to 27.2 million WIF, worth $44.36 million. The investor’s actions have had a noticeable effect on the WIF market, helping drive a 17.69% increase in price over the past week.
Community Reactions and What’s Next
The whale's ongoing activities have caught the attention of the cryptocurrency community. Crypto School, a well-known voice in the space, identified Dogwifhat as a leading memecoin, noting its strong performance and the importance of the $1.5 price level as key support.
Crypto School also pointed out the formation of a higher low, which is usually seen as a bullish signal. The influencer suggested entering the market at $1.55, with potential profit targets at $1.72 and $1.9, and a stop loss at $1.3.
https://twitter.com/greenytrades/status/1826902195238789238?ref_
Crypto trader Greeny Trades predicted that Dogwifhat might see a breakout in the coming months. The trader advised watching for long opportunities, as the whale's continued buying could push prices even higher.
The post Dogwifhat Whale Increases Holdings, Profits Now Exceed $77 Million appeared first on Crypto News Land.
