February 27, 2024 3:18 PM | 2 min read
The Most Important Earnings Report of the Year?
Gianni Di Poce gives the low-down on what he believes is the most important earnings report for the market today. Get his expert insights weekly, plus stock picks with Benzinga’s Insider Report Try it today for $0.99.
A trader who capitalized on the astounding price surge of Dogwifhat (CRYPTO: WIF) by taking a long position at an opportune time is now sitting on unrealized gains of over half a million dollars.
What Happened: Dogwifhat is up 47% on the day and 86% on the week, leaving established memecoins such as Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in the dust.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you’ll also get Benzinga’s ultimate morning update AND a free $30 gift card and more!
Lookonchain data highlighted an unknown trader who spent 4,900 Solana (CRYPTO: SOL), worth $539,000, to purchase 1.43 million Dofwifhat on the day before the most recent price surge.
Since Feb.16, 2024, the trader has spent 14,000 Solana, equivalent to $1.54 million, to purchase 4 million Dogwifhat, bringing the current unrealized profit to around $582,000.
The trader spent another 5,000 Solana to purchase 3.98 million Dogwifhat and later sold it for 6,443 Solana, thereby making a profit of 1,443 Solana worth $147,000.
Also Read: Solana-Based Shiba Inu Rival ‘Dogwifhat’ Rockets 35% As Binance Introduces WIF Futures Contract
Why It Matters: In the past 24 hours, Dogwifhat skyrocketed 47%, with the market capitalization of the token almost doubling to $623.7 million from $338.6 million a week ago.
Bitcoin Breaks Out New ATH Ahead?
The leading cryptocurrency broke key resistance. A green light for bulls. Gianni di Poce shares his thoughts in this week’s Insider Report. to Click Here to Grab a Copy for Just $0.99!
Dogwifhat surpassed the also trending Floki (CRYPTO: FLOKI), standing at $491.6 million in market cap,
Among Coingecko’s top dog-themed coins, Dogwifhat ranked fourth and was one of the highest gainers in the group.
While the memecoins valuation and rally have no connection to real-world utility, bigger traders and analysts have also started to observe Dogwifhat closely.
Highly-followed trader Hsaka tweeted a cryptic message of support:
Another notable trader, TheFlowHorse, also stated on his X account, “There are some mega obvious setups across the board. Few are as clear as $WIF right here. This base is setting up a much larger leg higher again.”
While the crypto community is buzzing with talks of Binance and Coinbase considering a Dogwifhat listing, the memecoin has already seen a significant rally in recent weeks.
Read Next: Dogwifhat Up 23% As This Solana Darling Ranks 5th By Memecoin Mcap: ‘The Doge Of This Cycle,’ Says Crypto Expert
The Most Important Earnings Report of the Year?
Gianni Di Poce gives the low-down on what he believes is the most important earnings report for the market today. Get his expert insights weekly, plus stock picks with Benzinga’s Insider Report Try it today for $0.99.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Credit: Source link