A Dogwifhat whale has sparked speculations amongst merchants just lately, closely dumping the meme coin to one of many high crypto exchanges, Coinbase. On-chain information on Saturday indicated that the whale dumped practically $10 million value of WIF after making a exceptional revenue. This saga has in flip fueled market considerations surrounding the dog-themed meme crypto worth motion forward.
Dogwifhat Whale Moves Nearly $10M Tokens To Coinbase
According to information from Lookonchain, a Dogwifhat whale deposited 2.78 million tokens, value $9.5 million, into the crypto trade Coinbase just lately. Notably, this commerce maneuver aided the dealer in nabbing a colossal $8.48 million revenue.
Intriguingly, this whale spent practically 9,300 SOL, value $1.02 million, to purchase 2.78 million cash practically 10 months in the past. Now, sending all his holdings to Coinbase, the whale made a staggering $8.48 million revenue, marking an 8x return on his funding. Notably, the whale’s tackle was reported to be AemRFz4zR9D, per Solscan data. While this profit-making commerce underscored the token’s market potential, it’s additionally value mentioning that the choice to promote holdings may very well be as a result of profit-booking technique.
Besides, one other on-chain metric got here opposite to the selloff, sparking investor optimism over the dog-themed meme crypto‘s actions forward. Notably, WIF outflows from exchanges noticed a major rise in current days, per Coinglass information. The spot trade influx/outflow map reveals that merchants notably withdrew the coin from exchanges, indicating heightened market curiosity within the asset.
Overall, the abovementioned stats have birthed a combined market sentiment over future worth actions.
How is The WIF Market Delivering?
At the time of reporting, WIF worth soared practically 2.5% intraday and is at present buying and selling at $3.54. The coin’s 24-hour high and low have been registered as $3.29 and $3.55, respectively. Notably, the rising motion defies the large dump to one of many top crypto exchanges, Coinbase, the place it falls in step with the trade outflows. Besides, it’s additionally noteworthy that the weekly and month-to-month charts indicated positive aspects value 9% and 51%, respectively, solidifying optimism over future actions.
Intriguingly, the meme coin’s current bullish trajectory additionally aligns with Robinhood listing the token. Further, even Dogwifhat futures OI jumped 3.5% to $735.56 million at the moment. Altogether, the most recent market stats point out that the token surfs bullish tides in opposition to the backdrop of heightened market curiosity. Crypto market contributors proceed to observe the top meme coin for additional pumps regardless of the Dogwifhat whale’s offloading chronicle.
Coingape Staff
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