Onchain analytics firm Lookonchain made a post revealing how 5 wallets, possibly belonging to a meme coin trader, made $24 million trading Dogwifhat (WIF).
The trader bought 14.53 million WIF on November 30, which was worth only $5,340.
The investor held on to the token as it spiked for months, as WIF price increased in value. However, dogwifhat started to fall in value prompting the trader to sell a few hours ago. The total return from the move was around 4,497x.
If the trader had sold at the highest price, they would have gotten more than $69 million, a return of 12,927x. The 4,497x return spiked the asset value up to $24 million.
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