In the past week, the Solana-based memecoin Dogwifhat (WIF) has experienced an astonishing surge of 300%. This surge sparked a major price rally, driving the price of the altcoin to $1.25.
As a result, reports emerged of investors reaping substantial profits, with some individuals making millions of dollars in just a short timeframe.
Dogwifhat’s Remarkable Growth and Whale Activity
According to data from on-chain data provider Lookonchain, Dogwifhat (WIF) has witnessed extraordinary growth in recent times. One notable case highlighted involves an investor who initially invested 5,288 SOL to purchase 2.58 million units of WIF for $310. In just three months, this investment skyrocketed, resulting in a staggering profit of 10,075 times the original amount, reaching $3.12 million.
Despite its impressive rise, whales continue to show strong interest in Dogwifhat, underscoring the altcoin’s growing significance in the crypto sphere. In a recent transaction involving a whale, 1.49 million units of WIF were acquired for 9,999 SOL at a rate of $0.8995 per token, totaling an investment of approximately $1.34 million. This substantial investment reflects the increasing allure of WIF among prominent market participants.
The surge in interest and investments in Dogwifhat has been further fueled by recent announcements from major platforms. Notably, on Thursday, February 29, Robinhood revealed plans to list WIF, enhancing the altcoin’s credibility and accessibility to a broader investor base.
Dogwifhat’s Rally Amidst Memecoin Excitement
The surge in memecoins has significantly contributed to the ongoing rally of Dogwifhat. Over the past 24 hours, Shiba Inu (SHIB) has experienced a remarkable increase of 52.85%, reaching $0.00001976, with a market capitalization of $11.65 billion.
Similarly, Dogecoin (DOGE), the largest memecoin, has followed a comparable trajectory. DOGE has surged by 18% in the last 24 hours, surpassing $0.15. Impressively, its price has soared by 66% in just one week, underscoring the sustained interest in memecoin-based altcoins.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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