In days when a very enthusiastic atmosphere prevails in the cryptocurrency market, memecoins do not stop their upward movements.
As it is known, it is almost certain that the SEC will approve Ethereum Spot ETFs, and the final decision date for these ETFs is tomorrow.
As the possibility of approval increased, almost all memecoins, especially PEPE, were positively affected.
Today, the significant rise of a memecoin attracts attention in the cryptocurrency market. The altcoin named Dogwifhat (WIF) experienced a significant rally during the day, rising from $ 2.71 to over $ 3.20.
Whales did not sit idle during the rise of WIF. According to Onchain data, two cryptocurrency whales seem to have benefited from this rise.
The first whale, with short address 37reKQ, purchased 453,877 WIF tokens at $2.89, paying $1.31 million. Then, with the rally in WIF, the unrealized profit level of the whale is around 161 thousand dollars at the time of writing this article.
The second whale with short address 8rWUUy used $730 thousand SOL to buy 247,791 WIFs at $2.95 and currently holds a total of $4.5 million WIF.
Both whales are currently profitable, but PEPE's performance has been superior to WIF so far, even accounting for WIF's recent rise. One of the reasons for this may be that PEPE is Ethereum-based while WIF is Solana-based. There is a lot of hype in the Ethereum ecosystem right now due to ETFs.
*This is not investment advice.