dogwifhat

Long

Shiba Inu

<div class="finbold">
 <p class="paragraph">A new meme coin in the block has given impressive gains to cryptocurrency traders, ranking among the best performers. The fun-token dogwifhat (WIF) reached $1.90 billion in capitalization on March 4, making millionaires on Solana’s (SOL) blockchain.</p>
 <p class="paragraph">In particular, a <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a> spent 5.28 SOL in late November 2023 to buy 2.58 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> WIF worth $310. As reported by <em>Lookonchain,</em> this stack is currently worth $4.1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, or over 30,000 SOL.</p>
 <p class="paragraph">Notably, the meme coin investor started collecting his gains during the recent spike. So far, the <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a> has sold 750,000 WIF for 9,363 SOL, worth $1.21 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> of realized profits.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picked for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Market shocker: this renewable energy stock is set to soar beyond expectations <span class="self-center text-xs text-slate-500">15 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Machine learning algorithm predicts XRP price for March 31, 2024 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Long squeeze alert for this week: PEPE could face massive crash <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    MicroStrategy stock set for mega squeeze despite $3 billion short interest <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">This has left the Solana-based account with a balance of 1.83 million WIF, worth $2.91 million. Interestingly, dogwifhat was trading at $1.58 on Raydium (RAY) – a decentralized exchange running on Solana.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="454" src="https://cdn.thebittimes.com/images/2024/03/05/b232262c69ee26464d8737dddc169812.webp" alt class="wp-image-158689" srcset="https://cdn.thebittimes.com/images/2024/03/05/b232262c69ee26464d8737dddc169812.webp 1024w, https://cdn.thebittimes.com/images/2024/03/05/b232262c69ee26464d8737dddc169812.webp 300w, https://cdn.thebittimes.com/images/2024/03/05/b232262c69ee26464d8737dddc169812.webp 768w, https://cdn.thebittimes.com/images/2024/03/05/b232262c69ee26464d8737dddc169812.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   WIF/SOL on Raydium, 4-hour chart. Source: <em>Lookonchain</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-meme-coin-mania-dominates-the-cryptocurrency-market"><strong>Meme coin mania dominates the cryptocurrency market</strong></h2>
 <p class="paragraph">The meme coin mania is back in the <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> market, and <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a>s must be cautious.</p>
 <p class="paragraph">Investors were surprised this morning to see the top five weekly performances among the top 100 cryptocurrencies held by meme coins. PEPE is leading with 420% gains in the last seven days and $3.5 billion exchanged in the past 24 hours.</p>
 <p class="paragraph">In a similar story, a PEPE trader has recently turned $3,000 to $35 million.</p>
 <p class="paragraph">FLOKI, dogwifhat, Shiba Inu (SHIB), and BONK compose the rest of the top five. In this context, Ethereum (ETH) is still the most profitable DeFi blockchain to speculate on meme coins. Meanwhile, Solana conquered a significant market share, with WIF and BONK as its representatives.</p>
 <p class="paragraph">WIF now trades at $1.72, up over 300% in the week.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="311" src="https://cdn.thebittimes.com/images/2024/03/05/01e2d5bdb6f811a6697f42bf2ce9f3d0.webp" alt class="wp-image-158691" srcset="https://cdn.thebittimes.com/images/2024/03/05/01e2d5bdb6f811a6697f42bf2ce9f3d0.webp 1024w, https://cdn.thebittimes.com/images/2024/03/05/01e2d5bdb6f811a6697f42bf2ce9f3d0.webp 300w, https://cdn.thebittimes.com/images/2024/03/05/01e2d5bdb6f811a6697f42bf2ce9f3d0.webp 768w, https://cdn.thebittimes.com/images/2024/03/05/01e2d5bdb6f811a6697f42bf2ce9f3d0.webp 1536w, https://cdn.thebittimes.com/images/2024/03/05/01e2d5bdb6f811a6697f42bf2ce9f3d0.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   7-day top gainers in the top 100 cryptocurrencies. Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <p class="paragraph">Nevertheless, meme coins are made of a purely speculative demand, which can vanish as fast as it arrives. Trading these cryptocurrencies is risky, and the volatility can be tremendous – both upside and downside.</p>
 <p class="paragraph">When the euphoria and greed disappear, meme coins have no recovery perspectives due to the lack of fundamentals and organic demand. Investors must understand the nature of tokens made to have fun and never deploy more money than they can lose.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/how-this-cryptocurrency-trader-made-from-310-to-4-million-in-3-months-tbt81575.html">https://thebittimes.com/how-this-cryptocurrency-trader-made-from-310-to-4-million-in-3-months-tbt81575.html</a></p>

How this cryptocurrency trader made from $310 to $4 million in 3 months

Table of Contents

TheBitTimes

Other articles published on Mar 4, 2024

Cryptocurrency Cosmos Hub Up More Than 5% In 24 hours

Why is Bitcoin Price Up Today? Is New ATH Imminent This Week?

Top 7 Meme Coins To Hit $1 by 2024

MicroStrategy Stock Is Sliding: What's Going On?

FLOKI Surges 343% in Just 7 Days: Discover Why

Bonk Price Prediction: BONK Soars 59% To New All-Time High, But Traders Still Flock To This Surgi...

Join our free newsletter for daily crypto updates!