Solana-Based Meme Coin Generator Pump.fun Stumbles as WIF Loses 36% From ATH, Here Are the Details

A crypto trader incurred massive losses after betting on dogwifhat (WIF), a prominent meme coin on the Solana (SOL) blockchain.

A crypto trader has sold their remaining dogwifhat (WIF) coins at a loss of $654,000.

According to鏈上分析師sbfonchain.sol, the trader sold the coins for 4.08 million USDC. The trader had earlier closed their WIF position after the entity sold the coins for 4.48 million USDC.

The trader, who appears to be heavily invested in meme coins, then used 1 million USDC to buy 1.6 million CHILLGUY tokens, 500,000 USDC for 1.44 million Fartcoin, and 176K USDC for 2.6 million UBC.

Meme Coin Market Overview

The meme coin sector is valued at around $121 billion, with $25.3 billion in trading volume over the past 24 hours. Dogecoin (DOGE) and Shiba Inu (SHIB) lead the industry, with market capitalizations of $57.4 billion and $14.5 billion, respectively.

As reported by CoinMarketCap data, WIF ranks as the fifth-largest meme coin and 44th in the overall crypto market. The cryptocurrency gained popularity following the rise of Solana-based meme coin generator pump.fun.

WIF Price Analysis

At the time of writing, WIF is trading at $3.07, down 2.47% over the past 24 hours. The altcoin is 36.69% below its all-time high of $4.85, with a market cap of $3.07 billion. Over the past day, the digital currency reached a daily high of $3.14 and a low of $2.92.

Over the past seven days, WIF has fallen nearly 8%, but is up 26.54% over the past 30 days. The altcoin has surged 1725.98% since November 2023, briefly claiming the top spot among SOL-based meme coins. However, Bonk (BONK) has since surpassed WIF to take the lead.

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