Smart WIF Trader Withdraws $3.4M WIF from Binance, Nets $930K Profit Over 6 Trades

A WIF whale has achieved $930K profit from six trades, leveraging low-price buys and timely Binance withdrawals. The trader withdrew $3.4M worth of WIF tokens, valued at $3.63 each, to prepare for another profitable cycle.

More articles

Pardon Joshua
Pardon Joshua
Pardon Joshua is a seasoned crypto journalist with three years of experience in the rapidly evolving blockchain and digital currency space. His insightful articles have graced the pages of reputable publications such as CoinGape, BitcoinSensus, and CoinGram.us, establishing him as a trusted voice in the industry. Pardon's work combines in-depth technical analysis with a keen understanding of market trends, offering readers valuable insights into the complex world of cryptocurrencies.

According to on-chain analysis, a prominent WIF token whale has made a cumulative profit of $930,000 from six trades since March 2024. 

This trader is known for his strategy of buying WIF at low prices, withdrawing the tokens from the Binance exchange to build their position, and then recharging the tokens back to Binance to sell after the price has rebounded.

Latest Trade: $3.4M Withdrawal from Binance

Just 45 minutes ago, this WIF whale initiated a new round of trading by withdrawing $3.4 million worth of WIF from the Binance exchange. 

SOURCE: ARKHAM

The average cost basis for this withdrawal was approximately $3.63 per WIF token.

Also Read: Crypto Trader Turns $450,000 in SOL Into $16.4M Profit on Binance $PNUT Trade, Yields 1,772% Profits

WIF Price Performance & Market Capitalization

Over the past month, the price of the dogwifhat (WIF) token has increased by 53.48%. However, in the last 24 hours, the price has declined by 3.76%. 

SOURCE: Coinmarketcap WIF Price

The current price of WIF is $3.63, with a 24-hour trading volume of $792,185,554. In the past 7 days, the WIF price has seen a 15.05% increase.

With a circulating supply of 1 billion WIF tokens, the dogwifhat project currently has a market capitalization of $3,635,751,730. 

This makes WIF a significant player in the cryptocurrency market, attracting the attention of large-scale traders and investors.

Implications and Significance

The trading activity of this WIF whale demonstrates the potential for substantial profits in the cryptocurrency market, particularly for traders with the experience and resources to take advantage of price movements. 

However, it also highlights the risks involved, as a single trader can significantly impact the market dynamics of a token like WIF. 

As the cryptocurrency industry continues to evolve, examples like this whale’s trading activity will likely become more common, underscoring the importance of thorough market analysis and prudent risk management for both individual and institutional investors.

Also Read: Crypto Trader Gordan Predicts Bold Q1 2025 Targets For BTC, ETH, & SOL To $135K, $9.5K & $750 Respectively

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest