The biggest holder of dogwifhat (WIF) is increasing their holdings while other memecoin whales are selling off, according to data from blockchain tracking firm Lookonchain. The top WIF holder now has over 23 million tokens after recently purchasing an additional 2.3 million. They spent $4.65 million to buy the WIF at a price of $2.03 on June 25th. In total, they hold WIF worth $49.6 million, with a profit of approximately $83 million. This same holder also spent $8.65 million to buy 17.22 million WIF in a single trade using 86,738.1 SOL.
Another WIF whale who had previously suffered significant losses from trading the memecoin has also bought more, according to Lookonchain. This whale lost $4.63 million on WIF but spent $3.77 million to purchase 2.06 million WIF after the price had risen. Their average buying price is $1.83, indicating that they sold at a low price and then bought at a higher price.
Lookonchain also reports that a whale recently sold off 700 billion Pepe (PEPE) tokens. The whale deposited $7.8 million worth of PEPE into Binance on June 24th and currently has 800 billion PEPE left, resulting in a total loss of approximately $3.5 million.
Furthermore, Lookonchain notes that a whale made substantial profits by selling their Shiba Inu (SHIB) holdings. The whale deposited 1.08 trillion SHIB, valued at $18.4 million, into Binance on June 24th, resulting in a profit of approximately $8.3 million. This same whale had previously withdrawn 1.08 trillion SHIB, costing around $10.07 million, from Binance on multiple occasions in November and December 2023. At the peak of SHIB, they had an unrealized profit of $29 million.
As of writing, WIF is trading at $2, experiencing a 3% decrease in the last 24 hours. Pepe is trading at $0.00001254, down nearly 2% in the past 24 hours. SHIB is trading at $0.00001733, down 3.5% in the last 24 hours.
Please note that the opinions expressed in this article are not investment advice. It is recommended that investors conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. All transfers and trades are done at one’s own risk, with any resulting losses being the investor’s responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor.
