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":"\n
WIF Plunges 11% As Whale Deposits Millions To Binance<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n