In November 2023, the trader invested 5.28 SOL to acquire 2.58 million WIF tokens. His portfolio is currently valued at $4.1 million, according to analysts at Lookonchain.
At the time of purchase, 5.28 SOL was equivalent to $310. For several months, the investor kept WIF coins in his wallet; by March 2024, he started selling assets amid a sharp rise in the #memcoin exchange rate.
The trader who spent only 5.288 $SOL($310) to buy 2.58M $WIF ($4.1M currently) started to sell $WIF for profits at the highest price.
— Lookonchain (@lookonchain) March 4, 2024
He sold 750K $WIF for 9,363 $SOL($1.21M) at $1.61, with 1.83M $WIF ($2.91M) left.
The total profit is $4.12M(13,307x)!https://t.co/Fc8EWZ673mpic.twitter.com/elFRilLtNd
Hodler reportedly sold 750,000 WIF tokens for 9,363 SOL. The total profit exceeded $1.21 million, and the trader was left with 1.83 million #WIF tokens worth $2.91 million in his hands.
Dogwifhat (WIF) represents mimcoins on the #Solana network. The asset's creator chose an image of a dog wearing a knitted Panama hat as its "logo". Since its launch, the WIF token has risen in value by more than 700%, according to TradingView.
On March 4, 2024, the coin reached an all-time high of $1.91. Currently, WIF is trading at nearly $1.61 USD:
Thus, between January 13 and January 18, the value of the WIF token jumped 163%. Other memcoins are also showing steady growth.
According to K33 Research, this trend may indicate the impending altcoin season.
