Rally

Solana

2024

USDC

Note

<p>Latest on-chain data from LookonChain reveals Solana-based memecoin Dogwifhat is gearing up for a major rally as the largest Dogwifhat whale is on a massive buying spree and going long on WIF. The whale has already accumulated more than $68 million in profit and is looking to mint more.</p>
<h2 class="wp-block-heading" id="h-dogwifhat-whale-turns-bullish">Dogwifhat Whale Turns Bullish</h2>
<p>Over the last three days, the <a href="https://www.thecoinrepublic.com/price-prediction/dogwifhat/" rel="noopener noreferrer nofollow">Dogwifhat</a> whale has conducted some bullish activity by depositing 21.9 million WIF, worth a staggering $35.48 million into Kamino. The whale later borrowed 3.24 million USDC stablecoins and used 2.7 million USDC to purchase around 1.8 million WIF.</p>
<p>Last year in December 2023, the whale acquired 19.86 million WIF at a mere price of $0.0114 per token with a total investment value of $226,000. Furthermore, the same whale also registered the domain “binance-insider.sol” by spending nearly $9 million in Solana tokens to buy 17.23 million WIF in a single transaction.</p>
<p>This WIF whale is currently holding 27.2 million WIF worth $44.36 million with total profits exceeding $68 million.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">The largest holder of <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a>, with over $68M in profit, is buying more and going long on <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a>!<br><br>In the past 3 days, he deposited 21.9M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a>($35.48M) into <a href="https://twitter.com/hashtag/Kamino?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kamino</a> and borrowed 3.24M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a>, then spent 2.7M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a> to buy ~1.8M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a>!<br><br>This whale spent $226K to buy 19.86M <a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$WIF</a> at only… <a href="https://t.co/4iXzJPlT8s" rel="noopener noreferrer nofollow">pic.twitter.com/4iXzJPlT8s</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1826886333266362414?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 23, 2024</a>
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<h2 class="wp-block-heading" id="h-wif-price-preparing-for-mega-rally">WIF Price Preparing for Mega Rally?</h2>
<p>During the first quarter of 2024 when the Bitcoin price rallied all the way to its all-time high of $74,000, the Dogwifhat price also witnessed a mega rally all the way to $4.7. However, as Bitcoin and the broader crypto market entered a strong consolidation phase, the WIF price retraced all the way to a multi-month low of $1.18 earlier in August.</p>
<p>As of press time, WIF is trading at $1.60, comfortably breaking above its crucial resistance level of $1.5. As <a href="https://www.thecoinrepublic.com/2024/08/22/dogwifhat-wif-price-and-market-cap-advanced-18-whats-next/" rel="noopener noreferrer nofollow">reported</a> by The Coin Republic, breaking this resistance has opened up the gates to a further rally all the way to $3.0261 and $4.0883. Note that if the WIF price fails to hold above these crucial support levels, it might trigger a drop all the way to $1.01.</p>
<p>Also, the Coinglass data shows that in the last 24 hours, there has been a total of $587.94K in liquidations in the last 24 hours, with $267.29K in long liquidations and $320.65K in short liquidations. Also, the open interest has surged to $220 million.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/23/dogwifhat-whale-on-buying-spree-mega-price-rally-ahead/" rel="noopener noreferrer nofollow">Dogwifhat Whale On Buying Spree, Mega Price Rally Ahead?</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Dogwifhat Whale On Buying Spree, Mega Price Rally Ahead?

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