Whale Dogwifhat (WIF) Makes Huge Profits of up to $68 Million
2024-08-26Bittime - The world of meme coins continues to be a roller coaster, and Dogwifhat (WIF) is no exception. A recent on-chain search by Lookonchain revealed interesting developments surrounding the largest WIF whale.
These major players, holding over 27.2 million tokens (worth approximately $44.36 million as of August 26, 2024), have not only secured a staggering $68 million in profits from their WIF investments but have now doubled their holdings.
History of Whale WIF's Strategic Steps
This news paints a whale with a keen understanding of the market and a potentially bullish outlook for WIF. His past transactions show a pattern of strategic buying, indicating a calculated approach to his investments.
Dive Deeper: Whale's Recent Activity
This whale's latest activity is very noteworthy. Over the past three days, they have deposited an additional 21.9 million WIF tokens (approximately $35.48 million) into Kamino, a popular DeFi platform.
This step was followed by borrowing 3.24 million USDC and using 2.7 million USDC (approximately $4.1 million) to purchase an additional 1.8 million WIF tokens.
Is This a Bullish Signal for WIF?
The pope's actions can be interpreted as a strong vote of confidence in the future of the WIF. While past performance is not necessarily an indicator of future results, whales' continued investment, coupled with WIF's recent 17.69% price increase (as of August 26, 2024), suggests continued growth potential.
Technical Indicators Add Bullish Potential
Technical indicators on the WIF chart further add to the bullish sentiment. Key indicators such as the 50-day and 200-day moving averages are trending upward, indicating a possible continuation of the uptrend.
Additionally, an increase in average volume indicates growing interest in the token, which could support further price increases.
Conclusion
While predicting the future of any cryptocurrency is inherently uncertain, recent actions by the largest Dogwifhat whales, combined with positive technical indicators, paint a potentially optimistic picture for WIF.
However, investors should remain cautious and monitor the market closely before making any investment decisions.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.