A trader who purchased $310 worth of meme token Dogwifhat (WIF) in November 2023 has made a significant profit by selling the coins after a sharp increase in price.

Key Highlights:

  • The trader spent 5.288 Solana (SOL) worth $310 to buy 2.58 million WIF, now valued at $4.1 million.
  • The trader sold 750,000 WIF for 9,363 SOL, totaling $1.21 million, with 1.83 million WIF remaining.
  • The total profit from the transaction amounts to $4.12 million, with the value of the assets increasing 13,307 times.

Dogwifhat is a meme coin inspired by the Shiba Inu dog meme, and since its launch, the token has seen a significant price increase of almost 900% according to CoinMarketCap. The token rose from $0.1797 to $1.67 in just over three months, reaching a new all-time high of $1.92 on March 4.

WIF has gained popularity among whale speculators since December, with stories emerging of traders making substantial profits by trading the token. One trader turned $226,000 into $1.69 million in just 5 days by buying WIF at an average price of $0.01137.

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