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<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">
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   <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>
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<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

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