Whale’s Strategic WIF Buys Yield $65.6M Profit

• The largest WIF whale has borrowed from Kamino to buy 643,832 more WIF, adding to their significant holdings.
• The whale’s strategic WIF purchases have resulted in a profit of approximately $65.6 million.

The largest holder of Dogwifhat (WIF), according to Lookonchain, has made another substantial market move. This whale borrowed 1.4 million USDC from Kamino and used one million USDC to buy 643,832 WIF for $1.55 just a few hours ago.

The largest holder of $WIF borrowed 1.4M $USDC from #Kamino and spent 1M $USDC to buy 643,832 $WIF at $1.55 again 6 hours ago.

The whale currently holds 28.66M $WIF($44.13M), and the profit on $WIF is ~$65.6M!https://t.co/jtJhdjDnQm pic.twitter.com/RdzC8vRxbt

— Lookonchain (@lookonchain) August 30, 2024

Whale Increases WIF Holdings to 28.66 Million, Securing $65.6 Million in Profit 

This strategic acquisition adds to their already large holdings, bringing the total to 28.66 million WIF, worth around $44.13 million. So far, WIF has generated an incredible $65.6 million in profit.

This is not the first time the whale has made news. According to CNF, the whale earlier spent 1.54 million USDC to acquire an additional 800,556 Dogwifhat tokens, which were also financed by a loan from Kamino. These acts indicate a well-planned approach to the meme token accumulation, most likely with the goal of capitalizing on future price changes.

At the time of writing, WIF was trading around $1.54, down 3.40% over the last 24 hours. Despite this minor fall, its daily trading volume remains high at $298.42 million, demonstrating that the market is still active.

Floki Inu Poised for Potential 200% Surge 

On the other hand, another popular meme coin, Floki Inu (FLOKI), is supposedly on the cusp of a significant surge. Our prior report has noted that Floki Inu could see a major price increase of up to 200%. The coin’s endurance during larger market downturns has sparked expectations of a significant price gain before the end of the year.