Another meme currency that was influenced by the Shiba Inu dog meme is Dogwifhat. According to CoinMarketCap, the token’s price has increased by about 900% from its introduction in November 2023. The value of the token increased from $0.1797 to $1.67 in slightly over three months.
The coin updated to a new historical maximum of $1.92 on March 4. Among whale speculators’ preferred coins since December is WIF. Many tales surfaced about whales that traded WIF and made incredible profits. Driven by the optimistic outlook that permeates the sector, WIF has increased by an astounding 320% in just one week, crossing the $1 billion valuation threshold.
The brains of BitMEX, Arthur Hayes, are boosting trust in the crypto world with his optimistic view of WIF. Declaring, “The hat remains on.” $WIF is equal to $2. Folks, let’s make it happen. How are you going to use your wealth from puppy money? This upbeat declaration from Hayes has added to the growing buzz about Dogwifhat.
Furthermore, cryptocurrency dealer AltcoinSherpa stated that “leaders will continue to lead,” highlighting the general optimism regarding WIF’s future.
Bulls have taken the lead in the market narrative for Dogwifhat, driving its valuation to previously unheard-of heights. WIF has increased by 35% to $1.20 at this time, and its trade volume has increased by an astounding 75% to $388 million. In the midst of all of this trading activity, WIF’s value changed in a single day from $0.83 to $1.32.
Dogwifhat has made significant gains by riding this trend, hitting an all-time high of $1.88, however, it is currently 11% below this peak. The asset is trading brilliantly at $1.71, indicating a 727.98% increase over the last 30 days, underscoring the meteoric development of the meme coin based on Solana.
Early Dogwifhat Trader Turns 5 SOL Into $4.1 Million Profit
The dealer purchased 2.58 million WIF, currently valued at $4.1 million, for 5.288 Solana (SOL), worth $310, as Lookonchain experts recalled. The trader made a total transaction of $1.21 million by selling 750,000 WIF for 9,363 SOL. With a total worth of $2.91 million, the trader’s balance is currently at 1.83 million. The assets’ worth climbed by 13,307 times, reaching $4.12 million in total.