DogWifHat, a new trending meme-coin, has helped a trader turn a $645 investment into $4.1 million. The trader initially bought their supply of WIF in November 2023, and began selling this week following the coin’s price jump. Starting with 5.288 SOL, the trader bought 2.58 million WIF coins.
Also Read: Shiba Inu: How High Can SHIB Rise in March 2024?
The trader even has some left over, according to LookOnChain. The WIF trader sold 750k WIF for 9,363 SOL, which is valued at $1.21 million. Each WIF coin was sold at $1.61. The trader still holds 1.83 million WIF, valued at $2.91 million at current market price. This totals $4.12 million, netting millions in profit.
DogWifHat (WIF) is one of many meme coins inspired by Shiba Inu (SHIB). Since it’s launch in November last year, price of WIF has been surging, and is currently 900% higher than it’s value at launch. Its $1.92 value on March 4 is an all-time high. This surge has granted early investors huge profits.
Also Read: Altcoin Frenzy: $PEPE and $WIF Lead Market Surge.
Some whales who invested early in WIF have seen the biggest profits. The entire altcoin/meme-coin market has been up in the past month, in part due to the surge of cryptocurrency and implementation. Thanks to Bitcoin ETFs and the upcoming halving for BTC, cryptocurrency’s overall sentiment is extremely bullish. Therefore, DogWifHat may have even more room to grow soon.
At press time, DogWifHat is trading at $1.43. It’s up over 200% in the past week.