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<p class="is-style-lead">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.</p> 
<p>Lookonchain analysts say the investor purchased tokens five days after the trading began. When Dogwifhat (<a href="https://crypto.news/price/Dogwifhat/" target="_blank" rel="noreferrer noopener">WIF</a>) grew tenfold, the trader decided to sell the savings for 2,031 Solana (<a href="https://crypto.news/price/Solana/" target="_blank" rel="noreferrer noopener">SOL</a>) tokens, worth about $142,000, for a net profit of approximately $141,000.</p> 
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   <p lang="en" dir="ltr">The 8.18M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WIF</a> this trader sold for 2,031 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SOL</a>($142K) at 10x profit now worth 23.25M USD!<br><br>He spotted <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WIF</a> 5 days after it opened trading and spent 20 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SOL</a>($1,173) to buy 8.18M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WIF</a>.<br><br>When <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WIF</a> increased 10x, he sold all <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WIF</a> for 2,031 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SOL</a>($142K), making 2,011 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SOL</a>($141K).<br><br>If… <a href="https://t.co/vOTQTlcKu3" target="_blank">pic.twitter.com/vOTQTlcKu3</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1768140111773053284?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 14, 2024</a>
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<p>Since listing WIF on exchanges, including Binance, the asset has grown tenfold. On March 14, it <a href="https://crypto.news/wif-reaches-new-ath-as-meme-coins-gain-bullish-momentum/" target="_blank" rel="noreferrer noopener">reached</a> a new all-time high, approaching $3.45, according to <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>. For comparison, in December 2023, it was trading around $0.15.</p> 
<p>According to CoinGecko, Dogwifhat has become the fourth meme coin by market capitalization, after giants such as Dogecoin (<a href="https://crypto.news/tag/Dogecoin/" target="_blank" rel="noreferrer noopener">DOGE</a>), Shiba Inu (<a href="https://crypto.news/price/Shiba-Inu/" target="_blank" rel="noreferrer noopener">SHIB</a>) and Pepe (<a href="https://crypto.news/price/Pepe/" target="_blank" rel="noreferrer noopener">PEPE</a>). Over the past 24 hours, the asset has grown by more than 40%.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="588" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-14-at-17.08.46-1024x588.png" alt="Early Dogwifhat investor sold coins for $142k, now worth $23.2m - 28" class="wp-image-14258275">
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  Source: CoinMarketCap
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<p>The trader could have earned $23.2 million by selling tokens near an all-time high by holding the asset for several months.</p> 
<p>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 $11 million.</p> 
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   <p lang="en" dir="ltr">A trader bought 5.1M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WIF</a> with only a cost of $1,749 on Nov 30 and has held it to now, which is now worth $10.9M!<br><br>This trader tried to limit sell <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WIF</a> on <a href="https://twitter.com/hashtag/Jupiter?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Jupiter</a>, but the order was not filled due to the high limit price.<br><br>So he canceled the limit order and transferred <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$WIF</a> to… <a href="https://t.co/eCRkN8DZBU" target="_blank">pic.twitter.com/eCRkN8DZBU</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1766051791953899912?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 8, 2024</a>
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<p>Another WIF trader <a href="https://crypto.news/early-dogwifhat-trader-made-4-1m-profit-with-5-sol/" target="_blank" rel="noreferrer noopener">purchased</a> 2.58 million WIF, bringing his total profit to $4.12 million.</p> 
<p>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.</p> 
<p> You might also like: <a href="https://crypto.news/traders-sell-off-meme-coins-amid-bitcoin-jump-to-64k/"> Traders sell off meme coins amid Bitcoin jump to $64k </a> </p>

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

crypto.news

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