Crypto Whales Continue Accumulation as Meme Coin Doubles in 12 Hours

2024-3-6 17:30

The meme coin Dogwifhat (WIF) has skyrocketed, surging over 100% from a mere $1 to over $2 in just 12 hours. This surge pushed it to all-time highs.

Now, its market capitalization exceeds $2 billion three months after its launch.

Crypto Whales Buy The WIF Dip

Crypto whales quickly noticed the price dip, seizing the opportunity to accumulate WIF at low prices. Notably, the on-chain analytics platform Lookonchain highlighted significant purchases by these investors.

One crypto whale, with the wallet address 87Hnwj, spent $5 million for 2.97 million WIF at an average of $1.69. Another wallet – GjRacG, invested $1.93 million in 1.15 million WIF, paying about $1.67 on average. These moves signal a strong accumulation.

WIF’s issuance in late 2023 captured the crypto community’s attention. It draws value from meme culture, especially an image of a dog wearing a hat. This unique appeal made WIF the first major meme token to cross the $1 mark. This achievement is unprecedented, especially compared to predecessors like Dogecoin (DOGE) or Shiba Inu (SHIB), which have never breached the $1 threshold.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Dogwifhat (WIF) Price Performance. Source: TradingView

Binance’s decision to list WIF was crucial to its surge earlier this month. This listing led to a trading boom, with Binance recording over $200 million in WIF trades on the first day. Furthermore, anticipating additional listings and its popularity among retail investors fueled its ascent.

Despite a market crash that liquidated over $1.13 billion in trades, WIF stood out and swiftly recovered, outperforming its peers.

Critics often question the utility and volatility of meme coins. They also express concerns over the anonymity of their developers, fearing potential market manipulations or scams. Yet, supporters like Whalefud Capital offer a counterargument. They believe meme coins offer a unique value proposition.

Read more: 13 Best Altcoins To Invest In March 2024

“Meme coins don’t need fancy utilities to shine. Just pure meme power and a community that loves to laugh. Utility coins, on the other hand, often come with promises of usefulness that end up fizzling out or nobody bothers to use, leading investors to sell their tokens,” Whalefud Capital said.

The post Crypto Whales Continue Accumulation as Meme Coin Doubles in 12 Hours appeared first on BeInCrypto.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto doubles whales hours accumulation coin continue

Источник: beincrypto.com

crypto doubles → Результатов: 126


Фото:

Crypto Exchanges in the Hot Seat as Japanese Regulators Increase Oversight

The Financial Services Agency (FSA), which doubles as both Japan’s crypto and financial regulatory watchdog, has ordered all bitcoin trading venues and digital assets exchanges in the region to strengthen their know-your-customer (KYC) and anti-money-laundering (AML) measures, as part of preparation for the upcoming G-7 summit and FATF inspection, reports Nikkei on May 22, 2019.

2019-5-24 13:00


Фото:

The Daily: Genesis Trading Doubles OTC Volume, Bittrex Moves 130,000 BTC

OTC crypto platform Genesis Global Trading has increased its annual trading volume by 50 percent and we’ve got the details in this edition of The Daily. We also feature an announcement by Bittrex which sought to calm traders who spotted 130,000 BTC being moved, and the launch of an offers bot by P2P exchange Hodl […] The post The Daily: Genesis Trading Doubles OTC Volume, Bittrex Moves 130,000 BTC appeared first on Bitcoin News.

2019-1-12 14:30


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Top Analyst Confirms The Bearish Target: Bitcoin Could Ease Down To $40,000

The latest Bitcoin (BTC) rally is already showing signs of losing momentum, and several analysts warn that a larger correction may be closer.   AlejandroBTC—posting on X (formerly Twitter)—called the current price behavior “a dead cat bounce,” suggesting the recent rebound may be near its end and that Bitcoin could be set up for a much deeper drop.

How Low Can Bitcoin Price Go? Analyst Shares Worst-Case Scenario

Historically, there have been similarities between past Bitcoin cycles when it comes to both the bull and the bear markets. A lot of these have to do with the percentage by which the price rises, and then the percentage by which the price begins to crash.

Where Is Bitcoin Price Headed Next? This Level Will Decide Everything

Bitcoin is back at a point where the next move may carry more importance than an ordinary resistance test. The latest rebound has pulled the price back into a zone that could be the line between a continued recovery and another leg lower, especially as it is still early to judge whether the bounce from the yearly low has real strength behind it.

Analyst Says Bitcoin Bulls Have Won And This Is The Next Target

Over the last week, the Bitcoin bulls have been putting up a fight to combat the consistent decline, and this has led to the price ranging around the $70,000 level. With this newfound recovery trend, things look to have taken a turn for the better as buyers are moving back into the arena. The result of this […]