2024

Solana

Million

Dogecoin

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A Solana (SOL) trader is making waves on the crypto market with his&nbsp;<a href="https://x.com/lookonchain/status/1764530753025749263?s=20" rel="noopener noreferrer nofollow">strategic moves</a> with Dogwifhat (WIF). The crypto market has been rallying since last week, and meme coins have been among the gainers. While coins like Dogecoin (DOGE) and&nbsp;<a href="https://u.today/shiba-inus-shibarium-experiences-big-activity-spike-as-shib-price-finds-new-paradigm" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> have surged massively, Solana-based memecoin Dogwifhat has also garnered investors' interest.
Taking advantage of this market momentum, a Solana trader has managed to generate substantial profits with WIF. As reported by blockchain data tracker Lookonchain today, this trader spent only 5.288 SOL, equivalent to $310 at that time, to buy 2.58 million WIF tokens on Nov. 26, 2023.
<blockquote>
 The trader who spent only 5.288 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($310) to buy 2.58M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> ($4.1M currently) started to sell <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> for profits at the highest price.He sold 750K <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> for 9,363 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($1.21M) at $1.61, with 1.83M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> ($2.91M) left.The total profit is $4.12M(13,307x)!<a href="https://t.co/Fc8EWZ673m" rel="noopener noreferrer nofollow">https://t.co/Fc8EWZ673m</a> <a href="https://t.co/elFRilLtNd" rel="noopener noreferrer nofollow">pic.twitter.com/elFRilLtNd</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1764530753025749263?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 4, 2024</a>
</blockquote>
As Dogwifhat&nbsp;<a href="https://u.today/1300000000-solana-meme-coin-dogwifhat-wif-reached-major-milestone" rel="noopener noreferrer nofollow">skyrocketed</a> in the past few days, the trader started selling his WIF holding for profits. Lookonchain reported that the Solana trader sold around 750K WIF coins at the price level of $1.61. The trader sold these coins for 9,363 SOL, valued at a whopping $1.21 million.
Despite this selling, the trader still holds 1.83 million WIF tokens, currently valued at around $2.91 million. According to Lookonchain, the Solana trader has made a total profit of a whopping $4.12 million, which translates roughly to a 13,307x gain on the initial investment of $310.
<h2 dir="ltr" id="dogwifhat-rides-meme-coin-wave">Dogwifhat rides meme coin wave</h2>
As previously mentioned, the meme coin market has been rallying with substantial price gains. According to data from CoinGecko, the meme coin market cap currently&nbsp;<a href="https://www.coingecko.com/en/categories/meme-token" rel="noopener noreferrer nofollow">stands</a> at $54.8 billion, a 20.8% increase in the last 24 hours. Moreover, the 24-hour trading volume has also surged, currently standing at $17.24 billion.
Riding on this wave, Dogwifhat has managed to generate substantial gains. As of this writing, the WIF price is $1.84, which is up 13.22% in the last 24 hours. Notably, the price is up a whopping 727.98% in the last 30 days, highlighting the astronomical price surge of the Solana-based&nbsp;<a href="https://u.today/dogecoin-doge-rally-leaves-80-of-investors-in-profit-whats-next" rel="noopener noreferrer nofollow">meme coin</a>.
Meanwhile, data from CoinGlass&nbsp;<a href="https://www.coinglass.com/currencies/WIF" rel="noopener noreferrer nofollow">reveals</a> that WIF has witnessed a remarkable surge of 10.95% in Open Interest in the last 24 hours. With the total Open Interest currently standing at $247.75 million, it reveals how traders have become bullish for WIF and how money has been entering the market. Overall, the Dogwifhat price is getting a major push from traders, and it appears that this bullish sentiment will prevail.

Solana Trader Makes Over $4 Million With Dogwifhat (WIF): Details

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