The cryptocurrency that increased user profits from $ 310 to $ 4 million is named

Editor’s note: not financial advice!

The dogwifhat (WIF) memecryptocurrency has brought impressive gains to cryptocurrency traders, being among the best performers. The WIF token reached a capitalization of $ 1.90 billion on March 4, making some of its investors millionaires.

At the end of November 2023, a trader spent 5.28 SOL to buy 2.58 million WIF worth $ 310. According to Lookonchain, this stack is currently worth $ 4.1 million, or more than 30,000 SOL.

It is noteworthy that the memecoin investor started collecting his profits during the recent surge. So far, the trader has sold 750,000 WIF for 9,363 SOL, which amounts to $ 1.21 million in realized profit. The investor has 1.83 million WIF left in his account, which amounts to $ 2.91 million. Interestingly, dogwifhat was trading at $ 1.58 on Raydium (RAY), a decentralized exchange powered by Solana.

Over the past week, popular memecoins such as Pepe, Floki, Bonk, and others have shown rapid growth. The price of such cryptocurrencies has increased by more than 500%, and the trading volume has increased by almost 3000%. According to Santiment, as public interest and prices have changed significantly, many memtokens have reached new all-time highs (ATHs). Along with the trading volume and sharp price increases, memecoins have also seen a significant surge in social activity.