According to crypto analysis firm LookOnChain, a dogwifhat (WIF) trader has sold parts of his holdings every time WIF rallies. The trader spent $5,879 to puy 6.1 million WIF tokens on Dec. 8, 2023. The trader soon sold 4.7 million WIF for $1.57 million. The wallet still holds 1.4 million WIF, worth around $5.47 million. However, had the trader not sold his 6.1 million WIF, his portfolio’s value would have been worth a whopping $23.7 million today.
dogwifhat (WIF) is a Solana-based memecoin launched in November 2023. Since its debut late last year, the memecoin has claimed several spots in the charts. The asset is currently the 34th largest cryptocurrency by market cap, rallying over 200,000% since December 2023.