when

USDC

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-influence-wif-coin-price-movements/" data-wpel-link="internal">Investors Influence WIF Coin Price Movements</a><br></p>
<p style="text-align: justify"><strong>In the cryptocurrency</strong> market, we see a positive atmosphere due to the potential approval of a spot Ethereum ETF. While this positive atmosphere continues, there are also increases and occasional decreases in the meme coin sector. Meme coin Dogwifhat (WIF) <strong>price</strong> has dropped by approximately 20% from its peak of $3.6799 in May. The Solana-based asset shows promise as it has recovered slightly from the drop. So, will there be an upward movement for WIF?</p> 
<h2 style="text-align: justify" id="solana-based-meme-coins-see-increases">Solana-Based Meme Coins See Increases</h2> 
<p style="text-align: justify">The market value of Solana-based meme coins increased by over 5% in the last 24 hours. The market value reached $8.75 billion on Thursday. Whale movements on WIF played a significant role in this increase.</p> 
<p style="text-align: justify">Lookonchain detected whale accumulation in WIF on May 22, just before the meme coin’s price increase. On Wednesday, WIF rose to $3.28 on Binance. While Ethereum-based tokens rose with optimism regarding ETF approval, Solana-based meme coins were also affected by this positive atmosphere.</p> 
<h2 style="text-align: justify" id="whale-sales-lower-wif-coin-price">Whale Sales Lower WIF Coin Price</h2> 
<p style="text-align: justify">According to Lookonchain, <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> and whale wallets that accumulated WIF on May 22 started taking profits on Thursday. Whale wallets identified as “37reKQ” and “8rWUUy” bought approximately $2 million worth of WIF on May 22.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-354855 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/WIFUSDT_2024-05-23_14-10-50.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">Late Wednesday, a whale sold 2.36 million WIF tokens for approximately 7.44 million USD Coin (USDC) at an average price of $3.155. This large sale by the whale reduced the value of the meme coin by 6%. Another major wallet investor sold 500,774 <strong>WIF</strong> for 1.47 million USDC at an average price of $2.94. This investor sold WIF a total of four times, making a profit each time.</p> 
<h2 style="text-align: justify" id="new-target-for-wif">New Target for WIF</h2> 
<p style="text-align: justify">WIF aims to return to its peak of $3.28 on May 22. WIF, which saw its local peak of $3.6799 on May 6, has not reached this level. However, a significant trend break occurred when it rose to $3.28 on May 22.</p> 
<p style="text-align: justify"><strong>MACD</strong> metric supported the bullish thesis for WIF by crossing the signal line on Wednesday, May 22. The Solana-based <a href="https://en.coin-turk.com/explosive-growth-for-solana-based-meme-coin-dogwifhat/" data-wpel-link="internal">meme token</a> is likely to rise to its peak on May 22 and gain approximately 9%.</p> 
<p style="text-align: justify">However, the market is always volatile and full of uncertainties. In the event of a correction, it is likely that <strong>WIF</strong> will pull liquidity to the lowest level of $2.42 on May 19.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-influence-wif-coin-price-movements/" data-wpel-link="internal">Investors Influence WIF Coin Price Movements</a></h5>

Investors Influence WIF Coin Price Movements

Table of Contents

COINTURK NEWS

Other articles published on May 23, 2024

PEPE just can’t stop, hits new high beating DOGE, SHIB

VCs dump $125M into new AI music platform — Can we all become beat-makers?

Luxury Bahamas Penthouse Of FTX Founder Set For Sale At $30M

Chiliz Announces Delay in Second Dragon8 Hard Fork

Ripple Moves 50m XRP, Cardano Network Activity Surges: Is Raboo Capitalizing on the Meme Market C...

Ethereum Eyes $4,000 Mark

Join our free newsletter for daily crypto updates!