Amid a extremely turbulent crypto market witnessed recently, a Dogwifhat whale’s resolution to dump practically $3 million price of tokens raised extreme considerations amongst merchants and buyers globally. On-chain stats on Wednesday indicated that the whale moved thousands and thousands of WIF to Coinbase, sparking bearish sentiments amongst buyers amid a broader crash. Notably, WIF worth tanked roughly 3% intraday in mild of the large dump to the crypto change.
Crypto market fans speculate over the dog-themed meme coin‘s future trajectory as such alarming market events unfold.
Dogwifhat Whale Offloads $3M Tokens To Coinbase Sparking Speculations
According to data from Lookonchain, a Dogwifhat whale moved 1.2 million tokens, worth $3.47 million, to the crypto exchange giant Coinbase. This whale’s handle, per Solscan’s data, was recorded as 72X13Krh1nCM..
Intriguingly, the whale collected the abovementioned quantity roughly eleven months in the past with a mere funding of $393K. Now, in mild of the market witnessing a bull run post-Trump’s win, this whale’s holding supplied a notable $3 million revenue.
However, it’s additionally noteworthy that the dump comes towards the backdrop of current volatility mirrored throughout the broader sector. CoinGape reported crypto liquidations surging to $1.76 billion just lately, with Altcoins primarily bearing the warmth. Dogwifhat liquidations on December 9 and 10 totaled $22 million, per Coinglass information.
Notably, the whale’s selloff is perhaps attributable to investor apprehensiveness or profit-booking motive because the market at the moment witnesses a turbulent motion amid large quantities liquidated. In mild of the abovementioned components, merchants and buyers speculate concerning the top meme coin’s future worth motion.
What’s Next For WIF?
At the time of reporting, WIF worth cracked practically 3.5% intraday and is at the moment buying and selling at $2.87. Its 24-hour high and low had been $2.66 and $3.01, respectively. Notably, the token at the moment trades 41% under its ATH of $4.85, with current Dogwifhat whale selloff and different stats projecting uncertainty over the crypto’s future actions.
However, a current Dogwifhat price analysis by CoinGape identified that the coin is anticipated to hit the $10 worth degree by December 2025 finish. Given that the meme token crosses resistance on the $4 mark, it might obtain its earlier ATH of $4.85. Crossing this ATH might additional pave the best way for an uplift towards the $10 mark. Nevertheless, market watchers proceed to extensively eye the token for worth motion shifts forward.
Coingape Staff
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Disclaimer: The introduced content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
