The largest non-exchange holder of the Solana-based memecoin (SOL), dogwifhat, continues to accumulate WIF, according to on-chain data.
Blockchain tracking firm Lookonchain claims that the Solana address that begins with “mmEAfW” has recently accumulated hundreds of thousands of WIF.
“The largest WIF holder spent 1.54 million USDC to buy 800,556 WIF again at $1.92!
This whale currently holds 28 million WIF ($53.23 million), and the profit on WIF has exceeded $77 million!
Last week, Lookonchain shared a chart showing the whale’s accumulation process, buying aggressively during the March run-up before unloading profits in April and May, then slowly re-accumulating again now.
At the time of writing, WIF is trading at $1.86.
Lookonchain also spotted another whale over the weekend depositing massive amounts of Bitcoin (BTC) onto Binance, the world’s largest cryptocurrency exchange, presumably to sell on the open market.
According to the blockchain tracker, the whale made millions of dollars in profits after holding BTC for months.
“A whale deposited 590 BTC ($38 million) on Binance to sell after BTC price spiked, earning over $15 million!
This whale purchased 590 BTC ($22.7 million) on Binance at an average price of $38,472 on October 20, 2023, February 21, and April 16, 2024.
Address:
18Txv4w4J31Un1gHBnxd6mPdNrkMaSvrJJ”
At the time of writing, Bitcoin is trading at $64,145.
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