Dogwifhat (WIF), a Solana meme coin, made headlines on Monday after a smart money trader accumulated almost $16 million worth of tokens from Binance. The trader had a proven track record of making substantial profits through their trading strategies, which raised optimism in the WIF price. The coin traded up nearly 4% at press time, further cementing investor optimism on price, following the accumulation.
The smart trader, identified as the whale address D2Noa, had previously accumulated 6.9 million WIF worth $15.87 million from Binance. They had then sold all of the tokens, making a profit of $8 million. This remarkable profit-making strategy projected optimism over the meme token’s future movements.
Solscan data revealed that the trader primarily held only the dogwifhat token, with negligible amounts of other small-cap tokens. The massive accumulation by the smart trader sparked significant market optimism, underscoring the potential for the top meme coin to experience a significant price pump.
WIF’s price traded up nearly 4% in the past 24 hours, with the coin currently trading at $2.44. The coin’s intraday high and low were recorded at $2.50 and $2.21, respectively. Traders and investors are optimistic about the token due to its recent bullish movement and the massive smart whale accumulation, expecting further gains.
Crypto market enthusiast Justin Bennett revealed on X that a maintained hold above $2.30 could push the coin to $2.90. Renowned analyst Ali Martinez also stated that Dogwifhat appears to be breaking out of a bull flag, suggesting that the token could see a 20% increase in the near future. In conclusion, recent market stats indicate that the leading Solana meme coin is preparing for a remarkable bull run in the near future.
