The Solana 
$219-based meme coin Dogwifhat (WIF) gained considerable optimism with a whale accumulating approximately $16 million worth of tokens from Binance on Monday. On-chain data indicates that this smart money’s previous trading strategies have significantly aided the investor in realizing notable profits. This development has created substantial bullish expectations for the WIF price, while the token’s lack of near 4% value appreciation over the past day has reinforced investors’ optimism regarding its price.
Dogwifhat Whale Accumulates Intensively from Binance
According to Lookonchain data, as of November 9, the smart whale address D2Noa accumulated 6.9 million WIF tokens worth $15.87 million from the cryptocurrency exchange Binance. The data reveals that this whale previously acquired $15 million worth of WIF and later sold all of it, netting an $8 million profit.
In light of this remarkable profit-taking trading strategy recorded in the past, the current accumulation by the smart trader has enhanced optimism regarding the future movements of the meme token. Furthermore, data from Solscan supports the notion that the trader predominantly holds Dogwifhat tokens, with other small market cap tokens held in negligible amounts.
Price Increase Expected
Meanwhile, the WIF price has shown an increase of approximately 4% over the past 24 hours, trading at $2.44. The token recorded daily lows and highs of $2.21 and $2.50, respectively. The meme token continues to rise in alignment with the significant buying pressure mentioned above. Additionally, the coin’s trading volume over 24 hours has reached $2.44 billion, marking a 4% increase.
Justin Bennett stated, “If WIF stays above $2.30, the coin could rise to $2.90 in the near term.”
Prominent analyst Ali Martinez noted, “Dogwifhat appears to be breaking out of a bullish flag, targeting a 20% increase in the coming period.”
Overall, the significant accumulation by a savvy trader has created considerable optimism in the market, highlighting the leading meme coin’s potential moving forward. Recent market statistics indicate that the prominent Solana meme coin is poised for a notable bullish run in the near future.
Given these developments, the WIF token is garnering interest among investors, influencing market dynamics and raising expectations regarding future price movements.
