Trader earns $ 3.5 million on Dogwifhat meme coin

Editor’s note: not investment advice!

An anonymous cryptocurrency trader known as «the whale» has made more than $ 3 million in profit from an investment in the Dogwifhat meme token WIF $2.51 dogwifhat -10.97% Market capitalization $2.51 billion VOL. 24 hours $0.16 billion . He bought 1.2 million tokens 11 months ago for $ 393 thousand and sold them on the Coinbase exchange for $ 3.47 million. It is noted that the average purchase price of the tokens was $ 0.3275, while at the time of sale, their value rose to $ 2.89 per unit. This brought the trader a record income with an increase of 790.58%.

The token’s popularity has increased dramatically recently, with WIF’s trading volume exceeding $ 1 billion in the last 24 hours. This is an impressive achievement for a token that was almost unknown to the market a year ago. Analysts note that the rise in prices for meme tokens is often associated with high risks and depends on speculative interest.

Despite the successful sale, experts warn that investors should be cautious with meme tokens due to their volatility.

As a reminder, Lookonchain analysts reported about a trader who earned $ 73 million on the Pepe meme token.

The No Worries editorial team strongly advises readers not to invest their own funds in dubious crypto projects and little-known digital assets!