Dogwifhat and Popcat sell-off as whale dumps tokens

Dogwifhat and Popcat Plunge as Whale Dumps Tokens

Dogwifhat (WIF) plummeted 11% on the day, mirroring the struggles faced by other popular meme coins. The Popcat (POPCAT) token also witnessed a decline, shedding 20% within 24 hours.

Meme Coin Market Correction

Dogwifhat ($WIF) and Popcat (POPCAT) have experienced double-digit losses in the past 24 hours, reflecting a broader sell-off in the meme coin market.

Dogwifhat's Decline

WIF, a catalyst for the meme coin surge on the Solana network, lost 11% over 24 hours on May 18. Its price has further declined by 17% in the past week, currently trading at $2.56.

In contrast, leading meme coins Dogecoin, Shiba Inu, Pepe, and Floki have all posted gains over the past seven days, despite experiencing losses in the 24-hour period.

Popcat's Slump

Along with Dogwifhat, Popcat, another meme token, has suffered significant losses. The Solana internet meme token has shed 20% in the last 24 hours, bringing its weekly losses to 14%.

Popcat's lack of intrinsic value may contribute to further price declines if bearish sentiment persists in the meme coin market. The token is currently trading around $0.3, a drop of over 48% since its all-time high of $0.71 on May 4.

Whale Unloads WIF and POPCAT

According to data from Lookonchain, a whale dumped WIF and POPCAT tokens at a loss, just days after acquiring them. The whale purchased $2.18 million worth of WIF (732,481 tokens) at $2.98 three days prior. It also scooped up 716,344 POPCAT tokens at $0.5 for a total of $361,000.

Today, the whale sold 732,481 WIF for $1.85 million and 716,344 POPCAT for $281,000, resulting in losses of $336,000 on Dogwifhat and $80,000 on POPCAT.