invezz.com
A large-scale investor has attracted the attention of crypto players with massive investments in memecoin Dogwifhat (WIF).
The whale has strategically accumulated over 200K WIF coins, worth over $600K at a $2.6 average price. The transaction intrigued many players due to the massive amount involved and timing.
Further, WIF was among the altcoins that exploded in the latest broad market rallies, a move that saw it attracting listing on Robinhood and Binance.
The wallet completed the series of purchases when WIF traded around the $2.60 mark – offering a lucrative entry after the token’s sharp dip.
WIF offered dip-buying opportunities as it lost 15% of its value over the past week as the overall market displayed weakness.
WIF price outlook
The memecoin recorded impressive recoveries on its daily chart, gaining 8% within 24 hours to press time levels of $2.69.
Meanwhile, the recent whale actions met mixed reactions. Some trust the move indicates confidence in the asset’s fundamentals and future price growth, whereas others view it as speculative trading.
Enthusiasts will likely monitor the next moves by the whale. Continued accumulation will boost WIIF strength, boosting price growth in the near term.
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