In the whirlwind of events, Dogwifhat (WIF), one of Solana’s standout meme coin projects, has once again made headlines. A bold $9 million investment in WIF spiraled out of control as an enthusiastic buyer faced a steep decline, and whispers about a potential listing on Binance fueled the meme token’s meteoric rise.
An expensive gamble on the meme coin Dogwifhat (WIF)
A mysterious buyer, possibly a thick-fingered trader or avid investor, made headlines with a series of transactions going after Dogwifhat (WIF) worth around $9 million. Transactions made through the Solana wallet address “5qYuZ9ZLShLB1MuV83xHRcTgVA9A5pUajnQUUcPbk3bf” resulted in the purchase of WIF at an alarming level of $3 per token. Unfortunately, the buyer faced a loss of over $5.7 million as prices plummeted to 15 cents.
Some market watchers think this high-risk trade may be a calculated marketing move that draws attention to WIF amid recent price swings. The incident highlighted the risks of placing significant orders into pools with low liquidity and the importance of understanding slippage on decentralized exchanges.
Binance listing coming?
Simultaneously, Dogwifhat (WIF) experienced a significant increase of over 100% in a 12-hour window, fueled by a combination of significant whale buying and speculation surrounding a potential listing on Binance. An investor with the online name “Binanceinsider.sol” played a pivotal role, purchasing a staggering 17.22 million WIF tokens for approximately $8.65 million.
This significant investment, along with the suggestive name of the buyer, has sparked rumors that Binance may consider listing Dogwifhat in the near future. “Binance-insider.sol” had previously shown interest in WIF, purchasing approximately 20 million tokens for a fraction of the last investment. Balina is currently WIF’s second largest owner, with a portfolio value of close to $7 million.
While the community awaits official confirmation from Binance regarding the potential listing of Dogwifhat (WIF), the bumpy ride of the meme coin continues. The confluence of a $9 million trade gone wrong and Binance listing speculation has created the perfect storm of excitement, leaving investors eager to see if WIF is ready for a major listing on one of the largest crypto exchanges.
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