• 28 May, 2024
Market News

Whale Activity Surges as Dogwifhat’s WIF Token Sees Price Spike

In a remarkable turn of events, the value of the Dogwifhat witnessed a robust 40% surge today, catching the attention of major players in the cryptocurrency market. Notably, two substantial whales made significant investments, totaling 38,132 SOL (equivalent to $5 million), acquiring a substantial 2.97 million WIF tokens.

Lookonchain, an onchain data provider, shared an X post highlighting a significant surge in the Dogwifhat price and the significant whale activity.

Leading the charge, wallet (87Hnwj) didn’t hold back, shelling out 23,400 SOL (approximately $3.06 million) for 1.82 million WIF, securing the deal at $1.69 per token. Following suit, wallet (GjRacG) entered the scene, spending 14,732 SOL (equivalent to $1.93 million) to acquire 1.15 million WIF at a slightly lower rate of $1.67.

This unprecedented financial move in the crypto space highlights a growing interest in WIF, raising eyebrows among industry enthusiasts. The significant capital influx suggests a bullish sentiment surrounding dogwifhat, reflecting the confidence major players have in its potential.

Following the Binance listing announcement, Dogwifhat initially soared to $1.8, showcasing the immediate positive impact on investor sentiment. However, a temporary setback occurred as Bitcoin faced a dip after reaching an all-time high, causing WIF to retrace towards the $1 level.

Despite this short-term volatility, Dogwifhat showcased resilience, rebounding to an impressive $2.13 at press time. WIF is trading in a range between $1.05 and $2.20, which are acting as support and resistance levels. The $2.20 mark is the ATH level, which could be breached in the coming sessions if the bullish trend holds. This exceptional performance underscores the token’s potential and stability even amidst broader market fluctuations.

WIF/USD price chart: CoinMarketCap

Over the past 24 hours, Dogwifhat has demonstrated a robust short-term momentum, recording a 40% increase in value. Zooming out to a weekly timeframe reveals a staggering 164% surge, indicating a consistent upward trajectory for WIF. The 30-day performance of Dogwifhat is nothing short of remarkable, with the token witnessing an extraordinary 855% growth. This sustained momentum suggests growing traction and increased investor interest in the token.

This surge in value has significantly boosted Dogwifhat’s market capitalization, witnessing a remarkable 10% increase to reach $2.07 billion. This substantial growth has propelled WIF to the 51st position in the cryptocurrency rankings by market cap. Moreover, the trading volume for Dogwifhat has experienced a dramatic 130% increase in the past 24 hours, reaching $1.39 billion. This surge in trading volume underscores the heightened interest and enthusiasm surrounding the token in the market.

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