{"id":9964,"date":"2024-09-27T15:30:39","date_gmt":"2024-09-27T15:30:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=9964"},"modified":"2024-09-27T15:30:39","modified_gmt":"2024-09-27T15:30:39","slug":"dogwifhat-whale-doubling-down-buys-more-wif-all-time-high-incoming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=9964","title":{"rendered":"DogWifHat Whale Doubling Down, Buys More WIF: All-Time High Incoming?"},"content":{"rendered":"

Meme coins are bouncing higher, looking at CoinMarketCap data<\/a> as of September 27. Dogecoin, the world\u2019s largest meme coin by market cap, is up 16% over the last trading week. Shiba Inu and Pepe rallied in the same period, adding 37% and 27%, respectively.<\/p>\n

The expansion of meme coin prices has also been a boom to DogWifHat (WIF). Solana\u2019s largest meme coin by market cap is up 14% on the last day, pushing weekly gains to over 31%. At the current valuation, WIF is the fourth most valuable coin, trailing Dogecoin, Shiba Inu<\/a>, and Pepe.<\/p>\n

DogWifHat Whale Accumulating, Meme Coin Soaring<\/h2>\n

Lookonchain data reveals that a meme coin whale accumulates as WIF prices tick higher. Tracking the address\u2019 movements, the largest WIF holder, data shows, appears to be steadily accumulating.\u00a0\u00a0<\/p>\n

By buying as prices begin to recover from their August and September lows, the move is an endorsement of the meme coin\u2019s potential in the coming months.<\/p>\n

On September 26, the whale borrowed 2 million USDC and bought 894,854 WIF at $2.24. Adding to his stash, the address now controls over 32 million WIF. This holding, Lookonchain analysts estimate<\/a>, pushes the whale\u2019s profits to over $86 million.<\/p>\n

However, the whale\u2019s borrowing of USDC and purchase of WIF is not the first time. Mid this week, the same address borrowed<\/a> 4.5 million USDC from Kamino and bought 2.55M WIF at $1.76. <\/p>\n

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.<\/p>\n

<\/a><\/p>\n

After sinking to March 2024 lows, the meme coin has recovered, doubling to spot rates. If WIF prices soar above $2.8 and July highs, there could be more room for growth. <\/p>\n

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.<\/p>\n

Will WIF Follow Popcat And Register Fresh Highs?<\/h2>\n

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.<\/p>\n

After exiting for a loss, losing $611,000, Lookonchain data shows<\/a> 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.<\/p>","protected":false},"excerpt":{"rendered":"

Meme coins are bouncing higher, looking at CoinMarketCap data as of September 27. Dogecoin, the world\u2019s largest meme coin by market cap, is up 16% over the last trading week. Shiba Inu and Pepe rallied in the same period, adding 37% and 27%, respectively. The expansion of meme coin prices has also been a boom […]<\/p>\n","protected":false},"author":0,"featured_media":9965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9964"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9964"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9965"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}