dogwifhat whale scoops up $13.34 mln WIF: Impact on price?

WIF has declined by 10.74% over the past 24 hours.
Whales have turned to buy the dip, scooping 7.25 million tokens worth $13.34 million.

Over the last day, as the cryptocurrency market took a plunge, meme-based coins were no exception to this downturn. One of the hardest hit among these meme-coins is Dog-What (WIF).

During this timeframe, the price of WIF has decreased from $2.09 to $1.84, creating an opportunity for big investors to purchase at a lower price.

In essence, it appears that whales are now stockpiling memecoins during lower price points. As reported by Lookonchain, a whale recently acquired 7.25 million WIF tokens valued at approximately $13.34 million.

When whales decide to invest in a particular asset, it suggests they have faith in the market’s recovery, as they anticipate prices to rise shortly, thereby increasing the cost of acquisition and boosting profits for owners.

Any impact on WIF price charts?

Although the increase in whales (large investors) is typically associated with a rise in prices for Dogwhatever, this trend has not been mirrored in its price chart so far.

Currently, I find dogecoin trading at approximately $1.87 per unit. This represents a 10.74% decrease in its value when viewed through a daily lens. Over the last month, there’s been a persistent bearish trend, with the memecoin shedding 46.13% of its worth on monthly charts.

Over the last month, I’ve observed an uptick in selling activity that appears to have put significant pressure on our metrics, resulting in a noticeable downturn in our performance.

Given the current market conditions, as per my understanding from AMBCrypto’s analysis, I find myself witnessing a significant wave of bearish sentiment surrounding WIF at this moment, with sellers seemingly in control.

Over the last day, there appears to be a growing pessimism surrounding WIF, as indicated by its bearish crossover on the Relative Vigor Index (RVGI). This crossover suggests that the memecoin has been under significant selling pressure, with the intensity of sales increasing.

Furthermore, it’s clear that traders are predominantly pessimistic due to persistently low Positive Scores (Weighted Sentiment) over the last week. This indicates a general expectation among traders that prices will decline.

Glancing ahead, it appears that a majority of traders are adopting a bearish stance, as approximately 50.9% of trading accounts are choosing to sell (short) on a daily basis. This suggests that many investors expect the prices to fall.

To summarize, the Open Interest for each exchange has noticeably dropped from approximately $184 million to $162 million as of the latest reporting.

This demonstrates that traders are choosing to exit their investments to prevent additional losses, whereas new investors are staying clear of the market. Such investment behavior suggests a decline in market confidence among participants.

To summarize, despite a whale’s recent shift towards purchasing dog-related assets, the overall market sentiment remains predominantly bearish. Nevertheless, significant buying activity from major investors could significantly contribute to WIF’s recovery from recent setbacks.

Read dogwifhat’s [WIF] Price Prediction 2025–2026

In the short term, the market has yet to feel the impact of the whale purchase.

Given the prevailing feelings, it’s likely that WIF may fall to around $1.82. But should the whale’s strategy prove successful, WIF could bounce back and regain its position at approximately $2.1.

2025-01-08 16:39

Any impact on WIF price charts?

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