blockchainreporter.net
A recent report by Lookonchain, a leading blockchain analytics platform, sheds light on a particularly extraordinary trading event involving the WIF token—a notable memecoin that has seen dramatic price movements and speculative interest.
5 wallets(may belong to the same person) sold 14.53M $WIF($24M) 7 hours ago!
— Lookonchain (@lookonchain) August 3, 2024
Incredibly, this guy bought 14.53M $WIF on Nov 30, 2023, and the cost was only $5,340!
He got a 4,497x return!
If he sold at the highest price, he would have made a profit of more than $69M, a 12,927x… pic.twitter.com/Of1kpEwOze
Stellar Returns on Investment
According to Lookonchain, a set of transactions caught the eye of analysts and traders alike due to the enormous returns they generated for one or potentially a group of investors. The report identifies five wallets, presumably under the same ownership, that executed a sale of 14.53 million WIF tokens.
These tokens were originally purchased on November 30, 2023, for a mere $5,340 but were sold just recently for a staggering $24 million. This trade represents a return of approximately 4,497 times the initial investment.
The timing and execution of these transactions are notable. The owner(s) of these wallets bought the tokens at a significantly lower price and chose to sell them after a substantial appreciation in value. If sold at the peak price, the profits could have escalated to more than $69 million, indicating a potential 12,927-fold increase, which underscores the speculative nature of this market.
Currently, the WIF token is experiencing a downturn, trading at $1.70, which represents an 11% decline in the last 24 hours and a 36.3% decrease over the past week.