Lookonchain reported a sale of 14.53 million Dogwifhat (WIF) tokens for $24 million.
Someone bought 14.53 million WIF for $5,340 in November 2023, a potential 4,497x return on investment. At the peak price, the profit could have been a staggering 12,927x.
Despite the high returns, Dogwifhat is currently in a downtrend, trading at around $1.68.
Analysts believe WIF, along with other memecoins, could recover if the memecoin market rebounds. Solana network’s success is seen as crucial for this recovery.
This story highlights the volatility of cryptocurrency investments, especially memecoins. Investors who can manage these fluctuations and make timely decisions can potentially benefit significantly.
Warning: Cryptocurrency investments are inherently risky, and past performance does not guarantee future results. This is not a financial advice. You are liable to your actions alone.