Recent on-chain data shows that the largest non-exchange holder of Solana (SOL)-based memecoin dogwifhat continues to accumulate WIF.
According to Lookonchain, a blockchain tracking firm, the Solana address starting with “mmEAfW” has recently acquired hundreds of thousands of WIF tokens.
“The top WIF holder spent $1.54 million to purchase 800,556 WIF at $1.92 once again!
This whale currently holds 28 million WIF ($53.23 million), with profits exceeding $77 million!”
Last week, Lookonchain shared a chart illustrating the whale’s accumulation pattern, showing aggressive buying during the March surge, profit-taking in April and May, and now slowly reaccumulating.
Currently, WIF is trading at $1.86.
Lookonchain also spotted another whale depositing a significant amount of Bitcoin (BTC) into Binance over the weekend, presumably for sale on the open market.
According to the blockchain tracker, this whale made millions in profits after holding BTC for months.
“A whale deposited 590 BTC ($38 million) into Binance for sale after BTC’s price increase, earning over $15 million!
This whale bought 590 BTC ($22.7 million) from Binance at an average price of $38,472 on Oct 20, 2023, Feb 21, and April 16, 2024.
Address:
18Txv4w4J31Un1gHBnxd6mPdNrkMaSvrJJ”
At the time of writing, Bitcoin is trading at $64,145.
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