{"id":625849,"date":"2024-06-21T20:00:41","date_gmt":"2024-06-21T20:00:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=625849"},"modified":"2024-06-21T15:58:37","modified_gmt":"2024-06-21T15:58:37","slug":"wif-plunges-11-as-whale-deposits-millions-to-binance-whos-behind-it","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/meme-coins\/wif-plunges-11-as-whale-deposits-millions-to-binance-whos-behind-it\/","title":{"rendered":"WIF Plunges 11% As Whale Deposits Millions To Binance, Who\u2019s Behind It?"},"content":{"rendered":"

Memecoins are in red this week as most sectors of the crypto market struggle. Dogwifhat (WIF) has not been the exception. \u00a0The memecoin sensation of Q1 saw a significant price drop following the movements of a whale. Recently, an address transferred millions of WIF to a crypto exchange, which ignited speculation about who was behind the transaction.<\/span><\/p>\n

Related Reading: LayerZero\u2019s ZRO Token Airdrop Receives Backlash For \u2018Proof-Of-Donation\u2019 Mechanism<\/a><\/div>\n

6 Million WIF To Binance<\/span><\/h2>\n

On Friday, reports<\/a> of a massive WIF transfer to Binance hit the crypto community. Per the report, one of the top dogwifhat holders moved millions to the largest crypto exchange.<\/span><\/p>\n

The whale transferred 5.97 million WIF, worth around $11 million, on June 21. Additionally, the address offloaded 48 million Trump Coin<\/a> (DJT), approximately $500,000.<\/span><\/p>\n

After the news, the crypto community began speculating who was behind the transfer. Some users claimed the whale was crypto trader Ansem, who was very vocal about WIF. The trader was also part of the Las Vegas Sphere project, where users donated around $700,000 to project the token\u2019s image in the Sphere. \u00a0<\/span><\/p>\n

Users on X criticized Ansem for the alleged deposit, expressing their disappointment in his \u201ccapitulation\u201d. Some investors took the opportunity to express<\/a> their discontent with the trader for \u201cgrifting and dumping on investors.\u201d<\/span><\/p>\n

The discussion sparked an important conversation: should Key Opinion Leaders (KOLs) not move their money? One user considers<\/a> that Ansem, and all KOLs, are free to do what they want with their money. \u00a0The user argued that KOLs are subjected to criticism regardless of their route.<\/span><\/p>\n

\n

When people sell before you do, they are \u201cjeet\u201d. When KOLs sell some of their holdings or even move it around, they are \u201cpump and dampers\u201d.<\/span><\/p>\n<\/blockquote>\n

Several community members agreed and questioned<\/a> if KOLs are \u201cobligated\u201d to hold a token until investors are happy with their profits. \u00a0However, others argue that community members are \u201carbiters\u201d of traders\u2019 reputations. \u00a0<\/span><\/p>\n

Dogwifhat Take A Blow, But Was It Ansem?<\/span><\/h2>\n

Despite the rumors, online reports suggest the wallet is not linked to the crypto trader. After deep-diving into the address, a community member found<\/a> that the address was not associated with Ansem.<\/span><\/p>\n

The post notes that the only reason it was linked to the trader was the large WIF balance and many Solana memecoins.<\/span><\/p>\n

However, the address has a record of selling their token at a loss \u201cto FOMO into new shiny stuff.\u201d Furthermore, the wallet<\/a> seems to be linked to a now-deleted X account. \u00a0At the time of writing, the trader has not acknowledged the rumors. \u00a0<\/span><\/p>\n

After the reports, WIF\u2019s price dropped from the $1.90 to the $1.80 price range. On the last day, the memecoin plunged from the $2.15 mark, representing a 13% decrease.<\/span><\/p>\n

Related Reading: Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree<\/a><\/div>\n

The token has also seen a 25.3% and 36.1% drop in the weekly and monthly timeframes. Crypto analyst Bluntz forecasted<\/a> a bearish $1 target for the dog-themed memecoin. Ultimately, <\/span>the analyst stated that a descent to the $1 support level was \u201cinevitable\u201d before the \u201cnext parabolic leg.\u201d As of this writing, WIF is trading at $1.83.<\/p>\n

\"WIF,
WIF\u2019s performance in the weekly chart. Source: WIFUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Memecoins are in red this week as most sectors of the crypto market struggle. Dogwifhat (WIF) has not been the exception. \u00a0The memecoin sensation of Q1 saw a significant price drop following the movements of a whale. Recently, an address transferred millions of WIF to a crypto exchange, which ignited speculation about who was behind the transaction. Related Reading: LayerZero\u2019s ZRO Token Airdrop Receives Backlash For \u2018Proof-Of-Donation\u2019 Mechanism 6 Million WIF To Binance On Friday, reports of a massive WIF transfer to Binance hit the crypto community. Per the report, one of the top dogwifhat holders moved millions to the largest crypto exchange. The whale transferred 5.97 million WIF, worth around $11 million, on June 21. Additionally, the address offloaded 48 million Trump Coin (DJT), approximately $500,000. After the news, the crypto community began speculating who was behind the transfer. Some users claimed the whale was crypto trader Ansem, who was very vocal about WIF. The trader was also part of the Las Vegas Sphere project, where users donated around $700,000 to project the token\u2019s image in the Sphere. \u00a0 Users on X criticized Ansem for the alleged deposit, expressing their disappointment in his \u201ccapitulation\u201d. Some investors took the opportunity to express their discontent with the trader for \u201cgrifting and dumping on investors.\u201d The discussion sparked an important conversation: should Key Opinion Leaders (KOLs) not move their money? One user considers that Ansem, and all KOLs, are free to do what they want with their money. \u00a0The user argued that KOLs are subjected to criticism regardless of their route. When people sell before you do, they are \u201cjeet\u201d. When KOLs sell some of their holdings or even move it around, they are \u201cpump and dampers\u201d. Several community members agreed and questioned if KOLs are \u201cobligated\u201d to hold a token until investors are happy with their profits. \u00a0However, others argue that community members are \u201carbiters\u201d of traders\u2019 reputations. \u00a0 Dogwifhat Take A Blow, But Was It Ansem? Despite the rumors, online reports suggest the wallet is not linked to the crypto trader. After deep-diving into the address, a community member found that the address was not associated with Ansem. The post notes that the only reason it was linked to the trader was the large WIF balance and many Solana memecoins. However, the address has a record of selling their token at a loss \u201cto FOMO into new shiny stuff.\u201d Furthermore, the wallet seems to be linked to a now-deleted X account. \u00a0At the time of writing, the trader has not acknowledged the rumors. \u00a0 After the reports, WIF\u2019s price dropped from the $1.90 to the $1.80 price range. On the last day, the memecoin plunged from the $2.15 mark, representing a 13% decrease. Related Reading: Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree The token has also seen a 25.3% and 36.1% drop in the weekly and monthly timeframes. Crypto analyst Bluntz forecasted a bearish $1 target for the dog-themed memecoin. Ultimately, the analyst stated that a descent to the $1 support level was \u201cinevitable\u201d before the \u201cnext parabolic leg.\u201d As of this writing, WIF is trading at $1.83. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":576450,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91895],"tags":[10768,84195,26263,89756,85279,92565,91713,92487,85699,92628,91711,91712],"class_list":["post-625849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meme-coins","tag-binance","tag-binance-crypto-exchange","tag-crypto-analyst","tag-crypto-trader","tag-crypto-whale","tag-dog-themed-token","tag-dogwifhat","tag-dogwifhat-price","tag-memecoin","tag-whale-deposit","tag-wif","tag-wifusdt"],"acf":[],"yoast_head":"\nWIF Plunges 11% As Whale Deposits Millions To Binance<\/title>\n<meta name=\"description\" content=\"A crypto trader is being accused of depositing millions of WIF to Binance, resulting in a 13% 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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