A cryptocurrency has been named, the investment in which brought the user more than 560% of the profit

In less than a week, the user made a profit of $ 1.47 million by investing in a new memtoken based on the Solana network. Lookonchain platform analysts told more about this.

From December 13 to 15, the crypto trader purchased 19 million Dogwifhat (WIF) tokens, a new dog-themed memecoin. Since the average purchase price was $ 0.1 137, the investor spent a total of $ 226,000.

According to DEXTools, at the time of writing, WIF is trading at $ 0.1043, up 68.87% over the past day. The value of the tokens purchased by the user is approximately $ 1.69 million. Thus, the trader managed to get $ 1.47 million, increasing his profit by 563%.

In an interview with CoinDesk, the user noted that such a huge deal with memcoin is more about luck than skill. He also added that he was prompted to buy WIF by the asset’s logo, which depicts a dog in a hat. He was laconic about the secret of his success: «The secret is to be an idiot.»

The Dogwifhat token, which literally translates to «dog in a hat,» is a new cryptocurrency launched in December of this year. According to the project’s official website, WIF is «a symbol of progress, futuristic operations, and a beacon for those who think about the future.»

Earlier, we talked about the BONK memtoken, whose price has updated its all-time high (ATH) several times over the past 2 weeks. One of the factors behind the latest rally, crypto experts suggest, is the interaction of the memcoin with the Binance crypto exchange. The world’s leading crypto platform has announced that it will list the asset on its platform.