Price: $0.19577 0.7827%
Market Cap: 28.72B 1.1178%
Volume (24h): 4.8B 0.2%
Dominance: 1.1178%
Price: $0.19577 0.7827%
Market Cap: 28.72B 1.1178%
Volume (24h): 4.8B 0.2%
Dominance: 1.1178% 1.1178%
  • Price: $0.19577 0.7827%
  • Market Cap: 28.72B 1.1178%
  • Volume (24h): 4.8B 0.2%
  • Dominance: 1.1178% 1.1178%
  • Price: $0.19577 0.7827%
Home > Information news > Early Dogwifhat investor sold coins for $142k, now worth $23.2m

Early Dogwifhat investor sold coins for $142k, now worth $23.2m

Release: 2024/03/15 06:06 Reading: 415

Original author:crypto.news

Original source:https://coinmarketcap.com/community/articles/65f30d66ed13b43d800acfc3

An unknown trader spent about $1,170 in Solana to buy 8.18 million Dogwifhat tokens and then sold them for $142,000, which is now valued at $23.2 million.

Lookonchain analysts say the investor purchased tokens five days after the trading began. When Dogwifhat (WIF) grew tenfold, the trader decided to sell the savings for 2,031 Solana (SOL) tokens, worth about $142,000, for a net profit of approximately $141,000.

Since listing WIF on exchanges, including Binance, the asset has grown tenfold. On March 14, it reached a new all-time high, approaching $3.45, according to CoinMarketCap. For comparison, in December 2023, it was trading around $0.15.

According to CoinGecko, Dogwifhat has become the fourth meme coin by market capitalization, after giants such as Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE). Over the past 24 hours, the asset has grown by more than 40%.

The trader could have earned $23.2 million by selling tokens near an all-time high by holding the asset for several months.

This is not the first time investors have made large sums from meme coins. Earlier, analysts drew attention to a trader who turned an investment in WIF of $1,800 into $11 million.

Another WIF trader purchased 2.58 million WIF, bringing his total profit to $4.12 million.

The growth of meme coins coincided with another wave of popularity for DOGE — its capitalization has reached $25 billion. As a result, new meme coins, launched in late 2023, before the start of the bull period in the crypto market, are generating significant returns for early investors.

You might also like: Traders sell off meme coins amid Bitcoin jump to $64k

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.