A big crypto investor, often known as a whale, has recently influenced the market of the $WIF token, showing a bullish outlook and confidence in the token’s future. Lookonchain, a famous on-chain analytics company, revealed that the memecoin whale has invested an additional $35M in the $WIF token after getting a profit of $68M. The analytics platform took to its official social media account to provide further details of the respective development.
Memecoin Whale Further Invests $35M in $WIF after Profiting $68M
In its latest X post, Lookonchain mentioned that the whale has the biggest amount of $WIF holdings. In this respect, the whale has amassed more than $68M in terms of profit. In addition to this, the whale has reportedly been elevating the position thereof in the case of $WIF. Hence, the recent few days have witnessed significant developments from the whale. According to Lookonchain, the whale deposited up to 21.9M $WIF tokens into the Kamino platform.
This amount reportedly accounts for $35.48M in value. After the respective deposit, the whale borrowed almost 3.24M $USDC coins against the $WIF holdings. Additionally, the whale did not leave the borrowed $USDC idle. On the other hand, the whale utilized 2.7M $USDC to buy out 1.8M additional $WIF coins. This move focused on further fortifying the long-term commitment of the whale to the crypto.
The Whale Still Holds $27.2M $WIF
The whale’s engagement with the $WIF tokens started back in mid-December last year. At that time, the whale spent up to $226,000 for the acquisition of 19.86M $WIF coins at a per-token price of only $0.0114. This occurred between the 13th and 15th of December. Just after this buyout, the whale registered a domain “binance-insider.sol.” Following that, the whale spent nearly $86,738 $SOL (equaling $8.92M) to purchase another 17.23M $WIF at once. As per Lookonchain, the whale now holds 27.2M $WIF (approximately $44.36M) in total.
