A large whale in the Dogwifhat cryptocurrency market recently sold 850,000 tokens, making a profit of $7.5 million. This resulted in the price of the token crashing by over 15% intraday, causing uncertainty among investors regarding the future potential of the token. Despite the massive sale, the whale still holds 50,000 WIF tokens, worth $175,000, and has a total profit of $7.5 million on the leading dog-themed meme token.
This strategy highlights the potential of meme coins for substantial gains but also signals a loss of investor confidence in the asset’s future.
