Dogwifhat (WIF), a dog-themed meme coin on Solana, surged recently, hitting a record high of $2.23 on March 6, 2024, and entering the top 100 cryptocurrencies by market cap.
In the unpredictable realm of cryptocurrency, stories of missed chances and surprising twists are quite common. One such story revolves around a developer closely involved with WIF, who narrowly missed out on the epic rally of Dogwifhat (WIF).
Developer’s Near Miss: Dogwifhat (WIF) Rally
An undisclosed developer found himself on the brink of a significant windfall as the price of Dogwifhat (WIF) soared to unprecedented levels. However, he almost missed out on the rally entirely, saved only by a stroke of luck.
According to Lookonchain, a WIF developer sold 350 million WIF for a mere 511 SOL (worth $29,000 at the time) just two days after WIF began trading. Had he waited, his profits could have soared into the millions, as the 350 million WIF stash sold is now valued at $693 million.
The saddest thing is that the $WIF dev sold 350M $WIF for 511 $SOL($29K) within 2 days after open trading.
The 350M $WIF is worth 693M currently!https://t.co/gDNKlLslfP pic.twitter.com/UhpXNrrvp2
— Lookonchain (@lookonchain) March 8, 2024
Fortunately, the developer had a wallet that didn’t immediately sell WIF. This wallet spent two SOL worth $110 to buy 489,674 WIF before selling 12.4 million WIF for 896,000 USDC. Now, he’s left with 589,199 WIF, equivalent to $1.17 million.
The Rise of Dogwifhat (WIF) in Cryptocurrency Circles
Early Traction and Memetic Value: WIF made its debut in November 2023 and quickly captured attention within cryptocurrency communities. With an astonishing 227,000% surge in its initial weeks, the coin’s memetic value stemmed from an image of a Shiba Inu dog donning a knitted beanie, leading to a steady rise in “wif hat” usage that culminated in explosive growth by late February.
Impressive Price Surge: In a remarkably short period, WIF’s value skyrocketed sevenfold, climbing from around $0.343 in late February to an all-time high of $2.23 on March 6.
Listing on Major Exchanges: The coin’s ascent was further propelled by listings on major cryptocurrency exchanges like Robinhood Europe and Binance. Despite challenges, its momentum remained steadfast, with a recent surge of over 21.73% in the last 24 hours, bringing its price to $2.17 at the time of writing.
Notable Milestone: WIF has experienced a remarkable 121.81% increase in the past seven days, marking a significant milestone as the first major meme token to surpass the $1 price point.
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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