According to activity detected by the cryptocurrency onchain monitoring platform Lookonchain, 5 different cryptocurrency whale wallets, probably belonging to the same person, sold memecoin.
Data shows that 5 whale wallets sold 14.53 million dogwifhat (WIF) tokens, worth a total of $24 million. Interestingly, these cryptocurrency wallets only purchased the WIF tokens for a total of $5,340. This shows that the prospective trader made a profit of 4,497x from this transaction.
Considering that the WIF token has fallen significantly from its peak value, the trader would have made a total profit of $69 million if he sold his tokens at the top. This means a return of 12,927x.
WIF, perhaps one of the first of the memecoin wave on the Solana network, has a “dog wearing a hat” mascot and can actually be considered a Dogecoin counterpart.
WIF currently ranks fourth among the largest memecoins in the world. The first three ranks are DOGE, SHIB and PEPE, respectively.
*This is not investment advice.