|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
DogWifHat Whale Accumulating, Meme Coin WIF Soaring
Sep 27, 2024 at 11:30 pm
Lookonchain data reveals that a meme coin whale accumulates as WIF prices tick higher. Tracking the address' movements, the largest WIF holder
Meme coins, a class of cryptocurrencies that began as internet jokes, saw a踽strong rally last week, with some tokens surging by double or triple digits.
According to CoinMarketCap data, Dogecoin (CRYPTO: DOGE), the world’s largest meme coin by market capitalization, gained an impressive 16% over the last trading week.
The meme coin, created in 2013, soared to $0.08 by Friday morning, up from $0.068 at the beginning of the week. Dogecoin prices remained relatively flat over the last month, with a 3% gain.
Dogecoin, initially started as a joke, has soared in popularity over the last few years, thanks largely to social media hype and endorsements from celebrities like Elon Musk.
The cryptocurrency, however, faced a setback in March 2024 when Binance, one of the world’s largest crypto exchanges, halted DOGE withdrawals due to a technical issue. The exchange resumed withdrawals a day later.
Dogecoin, soared to all-time highs of $0.73 in March 2024, fueled by retail traders and social media enthusiasm. However, the meme coin lost steam later in the year as crypto markets crashed and regulatory concerns mounted.
Dogecoin prices recovered in early 2024 from March 2024 lows of $0.04. Meme coins, in general, saw a strong rally this year, with several tokens surging by triple digits.
Solana’s largest meme coin by market cap soared over 14% in the last day, pushing weekly gains to over 31%. The meme coin doubled from September lows, surging to $2.62 at the time of writing.
The rally comes as a whale accumulates WIF, with data showing that the largest WIF holder bought 894,854 WIF at $2.24 on September 26. Adding to his stash, the address now controls over 32 million WIF.
This holding, Lookonchain analysts estimate, pushes the whale’s profits to over $86 million. However, the whale’s borrowing of USDC and purchase of WIF is not the first time.
Mid this week, the same address borrowed 4.5 million USDC from Kamino and bought 2.55M WIF at $1.76. Looking at this trend, it is evident that the whale expects prices to continue printing higher highs.
The daily chart shows that the meme coin is picking up steam. After sinking to March 2024 lows, the meme coin recovered, doubling to spot rates.
If WIF prices soared above $2.8 and July highs, there could be more room for growth. Ultimately, the medium-term target would be $4.8, a level last printed in March.
However, for this to happen, WIF prices must more than double from spot rates. The likelihood of WIF printing new all-time highs in the coming weeks or months cannot be discounted.
Popcat, another meme coin on Solana, recently broke higher, registering new all-time highs above $1. At spot rates, the token is up nearly 120% in Q3 2024, attracting interest from whales.
After exiting for a loss, losing $611,000, Lookonchain data shows that the whale re-entered the Popcat market, spending $1.29 million worth of SOL to buy 1.3 million POPCAT at around $1. From the daily chart, a close above $1 will be crucial in sustaining the upside momentum.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Grayscale Research Unveils Top 20 Cryptocurrencies Expected to Perform Well During Q4 2024
- Sep 28, 2024 at 03:00 am
- Grayscale's research team unveiled the top 20 cryptocurrencies expected to perform well during the last quarter of 2024.
-
- Bitcoin Soars 5% as China Unleashes $284B Stimulus, Promises More
- Sep 28, 2024 at 03:00 am
- The top crypto trades at around $66,300, its highest price since July.
-
- MicroStrategy (MSTR) Exchange-Traded Funds (ETFs) Broke $400 Million in Net Assets This Week
- Sep 28, 2024 at 03:00 am
- Leveraged MicroStrategy (MSTR) exchange-traded funds (ETFs) broke $400 million in net assets this week as retail investors continue to pour into the ultra-volatile Bitcoin
-
- Pepe Unchained ($PEPU): The Meme Coin Super Cycle is Real
- Sep 28, 2024 at 03:00 am
- Things are looking up for joke tokens enthusiasts – meme coin are pumping again. Double-digit gains are prevalent across the board, and new presales like Pepe Unchained ($PEPU) are amassing huge momentum.
-
- SHIB Stablecoin: What We Know So Far
- Sep 28, 2024 at 03:00 am
- Lucie, SHIB's marketing lead, elaborated on the fundamentals of the SHI stablecoin in a message on X. According to Ryoshi's vision, this stablecoin is
-
- The 5 Best Meme Coins to Buy Right Now as We Enter the Final Quarter of 2024
- Sep 28, 2024 at 02:30 am
- Meme coins are back in the green this week. Shiba Inu, Brett, and Pepe are all soaring, each posting double-digit gains in the past few days.
-
- Bitcoin BTC/USD Breaks Above $66,000, 10x Research Predicts a Swift Move Towards $70,000 and New All-Time Highs
- Sep 28, 2024 at 02:30 am
- The uptrend is supported by accelerating stablecoin minting, with nearly $10 billion issued in recent weeks, surpassing Bitcoin ETF flows.
-
- Bitgert (BRISE) vs Kaspa (KAS) - Which Is a Better Investment?
- Sep 28, 2024 at 02:30 am
- Kaspa and Bitgert are two popular cryptocurrencies that have lately caught the attention of investors right in the wake of Q4 24′.
-
- Neiro Coin vs Bitgert (BRISE): Which Is a Better Investment Option?
- Sep 28, 2024 at 02:30 am
- Within the crypto sphere, a lot of attention has been drawn to two crypto assets: Neiro Coin and Bitgert. While Neiro relies on the popularity of new