Largest Holder of dogwifhat Buys 2.3 Million WIF

Whale Activity Spotted In dogwifhat; Lookonchain Reveals

According to the latest post on X by blockchain analytical firm Lookonchain, the largest holder of WIF recently spent 4.65 Million USDC to purchase 2.3 Million WIF at a price of $2.03. At the time of writing this holder currently possesses 23.39 Million WIF ($49.6M) with a profit of approximately $83 Million on WIF. 

Source: X

Additionally, this individual also executed a single trade in which they spent 86,738.1 SOL ($8.65M) to acquire 17.22 Million WIF.

The community praises the trader in the comment section of the Lookonchain post giving titles like King, beast, legend, and others. Moreover, one user commented "Respect for the wif whales holding their ground" which shows  WIF has a strong community.

WIF Unique Wallet Count Are Increasing

According to the Dune data, the unique wallet count of the WIF has increased tremendously in the last few weeks. On 25 April 2024, WIF had a unique wallet count of 134,641 which was increased to 154,403 at the time of writing.

Source: Dune

The growth in the unique wallet count is a positive signal hinting at a positive outlook for the dogwifhat.

dogwifhat Showing Reversal On Technical Chart

On the technical chart, WIF is showing reversal signs as the price bounces back from the lower support of $1.4963 showcasing bullishness.

However, the 20 and 50-day EMA levels act as the resistance for the price. Moreover, the RSI curve is also showcasing bullish signals as it bounces back from the oversold zone and heads in the upward direction.

Source: Tradingview

At the time of writing dogwifhat (WIF) was trading at the level of $2.03 with an intraday gain of $8.91% but the volume decreased by 21.87%. 

The 24-hour volume to market cap ratio is 27.80% showcasing WIF has good liquidity.

According to coinmarketcap data, The all-time low price of WIF was $0.0677, registered on Jan 08, 2024, and the all-time high price was $4.85, registered on March 31, 2024. WIF has gained 2911% from the all-time low price to the current price.

Conclusion

The largest holder of WIF purchased 2.3 million WIF at a price of $2.03 and currently owns 23.39 million WIF, with a profit of approximately $83 million. The same holder spent 86,738.1 SOL ($8.65M) to acquire 17.22 million WIF. Moreover, the unique wallet count of WIF has increased from 134,641 to 154,403 in the last few weeks, indicating a positive outlook for dogwifhat. WIF is showing reversal signs on the technical chart, with the price bouncing back from the lower support of $1.4963 showcasing bullishness.

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