According to on-chain analytics from LookOnChain, a $WIF whale made over $68 million in profits in the last three days. The whale continues to ‘HODL’ more of the token dogwifahat (WIF). The trader who deposited 21.9 million WIF tokens into the Kamino platform has shown strong confidence in the token.
As part of their trading strategy, the trader borrowed 3.24 million $USDC and used it further to buy back 1.8 million WIF tokens by spending 2.7 million $USDC. The whale has executed such a strategy before. From December 13th to 15th of 2023, they bought 19.86 million WIF for $226000.
Back in December, WIF tokens were trading at just $0.0114. This is not all! After registering in a separate domain named ‘binance.insider.sol’, the trader spent around 86,738 SOL tokens to buy a little over 17 million WIF in a single transaction.
Currently, the whale harbors around 27.2 million $WIF, totaling a value of approximately $44.36 million, shooting WIF into a bullish outlook for the market. In the last three days, crypto viewers have seen two significant turnarounds: one whale holding about $68 million in profits and WIF making the $1 mark. WIF is currently trading at $1.63. The token ranks in the 50th place on CoinMarketCap now, with many analysts hoping to see the token rise to its ATH of 30 days at $2.69 soon.