Early Dogwifhat trader made $4.1m profit with 5 SOL

2024-03-04 04:40:12

A trader who bought $310 worth of meme token Dogwifhat (WIF) in November 2023 began selling the coins after a meteoric price rise.

As Lookonchain analysts recalled, the trader spent 5.288 Solana (SOL) worth $310 to buy 2.58 million WIF, now valued at $4.1 million.

The trader sold 750,000 WIF for 9,363 SOL; the transaction total was $1.21 million. Now, the trader’s balance remains about 1.83 million with a total value of $2.91 million. The value of the assets increased 13,307 times, and the value of the assets reached $4.12 million.

Dogwifhat is another meme coin inspired by the Shiba Inu dog meme. Since its launch in November 2023, the token has risen in price by almost 900%, according to CoinMarketCap. In just over three months, the token rose from a price of $0.1797 to $1.67. On March 4, the coin updated a new historical maximum, reaching $1.92.

Since December, WIF has become one of the favorite coins of whale speculators. Many stories emerged about how some whales made fabulous profits by trading WIF. One trader earned $1 million in 5 days, buying WIF for $226,000.

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