WIF Whale Increases Holdings, Profits Now Exceed $77 Million

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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.

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.

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