According look chain, a whale has made a significant move by depositing 12.66 million WIF, valued at approximately $23.4 million, on the Binance exchange. The huge WIF stash was moved in two transactions to the Binance crypto exchange. Deposits indicate an intention to sell, while withdrawals may suggest a purchase.
According look chain, a whale has made a significant move by depositing 12.66 million WIF, valued at approximately $23.4 million, on the Binance exchange. The huge WIF stash was moved in two transactions to the Binance crypto exchange. Deposits indicate an intention to sell, while withdrawals may suggest a purchase.
The 12.66 million WIF deposit on Binance is significant not only for its size but also for the timing of volatile market conditions.
The major transfer comes at a time when the Solana-based meme coin Dogwifhat is experiencing a downturn, with a 7% drop in the last 24 hours and a 34% drop over the past week.
The drop in Dogwifhat’s value reflects the broader market sentiment, which has been bearish of late. Bitcoin fell to a more than one-month low as a lack of new market drivers slowed this year’s record rise.
Dogwifhat plummets 31%
Solana meme coin Dogwifhat (WIF) has fallen significantly from the previous day as the crypto market experienced fresh bearish pressure.
Against this backdrop, WIF has steadily declined since reaching highs of $4.07 on May 29. The most recent sell-off has seen WIF fall for six days in a row since June 17.
Tomiwabold OlajideAt the time of writing, WIF was trading at $1.68, down 3% over the past hour and down 7% overall over the past 24 hours. If it closes in the red today, the WIF could mark its seventh day of losses. The Solana-based meme coin is currently down 35% weekly.
Other Solana meme coins have fallen since last week, including BONK, which is down 17.58%, and Book of Meme (BOME), which is down 15%.
Solana meme coins have followed Solana’s negative trend over the past week; Solana is the only cryptocurrency in the top 10 except Dogecoin, whose price has fallen almost 10% in the last seven days.
