Plunge

dogwifhat

Bold

Coin

<p>The post <a href="https://coinpedia.org/news/whale-buys-big-dog-themed-coin-wif-surges-23-7-amidst-market-plunge/">Whale Buys Big: Dog-Themed Coin WIF Surges 23.7% Amidst Market Plunge</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The seven-month-old dog-themed meme coin, dogwifhat (WIF), has experienced a significant shift in momentum after enduring a month of continuous declines. Surging by 23.7% in the past 24 hours, WIF is now trading at $1.92, marking its first bullish movement in nearly a month.</p> 
<p>This sudden surge was largely due to the substantial purchases made from large-scale investors, who engaged in discussions about <a href="https://coinpedia.org/price-prediction/dogwifhat-wif-price-prediction/" target="_blank" rel="noreferrer noopener">potential buying opportunities</a> for the meme coin.</p> 
<h2 class="wp-block-heading" id="h-whale-makes-bold-buying-on-wif">Whale Makes Bold Buying On WIF</h2> 
<p>According to Lookonchain, a well-known blockchain analytical firm, the Whale, who previously incurred substantial losses on WIF, has reinvested millions in the token despite its recent price rise.</p> 
<p>The whale initially faced a massive loss of $4.63 million on WIF. Despite these substantial losses, the whale recently spent 3.77 million USDT to repurchase 2.06 million WIF at an average price of $1.83 per token.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">This whale, who lost $4.63M on <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a>, spent 3.77M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> to buy 2.06M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> back after the <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WIF</a> price rose.<br><br>His average buying price is $1.83, selling at a low price and then buying at a higher price.<a href="https://t.co/7xutjIzMGs">https://t.co/7xutjIzMGs</a> <a href="https://t.co/d5glbGKsyq">pic.twitter.com/d5glbGKsyq</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1805423447243473310?ref_src=twsrc%5Etfw">June 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>This reinvestment was made at an average price of $1.83 per WIF, reflecting a strategy that involved selling at a low price and then buying back at a higher price.</p> 
<h2 class="wp-block-heading" id="h-memecoin-social-activity-spikeed-78">MemeCoin Social Activity Spikeed 78%</h2> 
<p>Recent data from Santiment reveals a surge in the price of dogwifhat as investors discuss potential buying opportunities. Meanwhile, the social activity around the meme coin spiked by 78% in the past 24 hours.</p> 
<p>During this time, WIF’s <a href="https://www.coinglass.com/currencies/WIF" target="_blank" rel="noreferrer noopener nofollow">total open interest rose</a> from $191 million to $201 million and the total funding rate has remained stable at around 0.007% since June 20. The $10 million increase in open interest suggests a bullish sentiment among traders.</p> 
<p>Additionally, the WIF relative strength index (RSI) increased from 24 to 34, indicating favorable conditions for a potential price surge.</p> 
<h2 class="wp-block-heading" id="h-looking-ahead">Looking Ahead?</h2> 
<p>After a volatile period, Dogwifhat’s price has found stability, showing just a 14% decline over the past 30 days, a significant improvement from earlier losses exceeding 30%.&nbsp; As of now, <a href="https://markets.coinpedia.org/dogwifhat/" target="_blank" rel="noreferrer noopener">Dogwifhat’s price surged </a>by 23.43% and currently hovering at $1.96 with a market cap of $1.9 billion.</p> 
<p>Read Also: <a href="https://coinpedia.org/news/is-strikes-new-bitcoin-app-set-to-transform-uk-payment-heres-what-the-data-says/" target="_blank" rel="noreferrer noopener">Strike Launches Bitcoin Lightning Network App in UK: Revolutionizing Crypto Payments Globally</a></p>

Whale Buys Big: Dog-Themed Coin WIF Surges 23.7% Amidst Market Plunge

Table of Contents

CoinPedia News

Other articles published on Jun 25, 2024

MoonBag Sparkles as the Best Crypto Presale in June 2024 as VeChain and Chainlink Fail to Make Th...

Dogecoin (DOGE) Hits Crucial Point on Chart: Analyst

Why These Altcoins Are the Smartest Investments

How To Turn $1,000 Into $1 Million: The Ultimate Guide To Winning Crypto Presales

EU Targets Crypto Providers in 14th Sanctions Package Against Russia

$8.5 Billion Bitcoin Release by Mt. Gox May Not Shock Market

Join our free newsletter for daily crypto updates!