Whale Uses $SOL Tokens to Boost $WIF Token Price
A recent move by a large investor, known as a whale, has caused a significant increase in the value of $WIF tokens. According to Lookonchain, a well-known platform for on-chain analytics, the whale made use of $SOL tokens to purchase a substantial amount of $WIF tokens with the intention of driving up their price. The details of this transaction were shared by the analytics company on its official X account.
In a span of just five hours, the whale spent 17,966 $SOL tokens (equivalent to $2.98 million) to acquire 953,177 $WIF tokens at a price of $3.13 each. This purchase led to a rapid rise in the price of $WIF tokens by approximately 7%.
Interestingly, this is not the first time that this particular whale has made a move in the $WIF token market. Earlier, on May 21, the whale had invested 1 million $USDC to purchase 355,417 $WIF tokens at a rate of $2.81 per token. The following day, the whale sold these tokens at $3.07, earning a profit of $90,000.
The actions of this whale have caused significant fluctuations in the $WIF token market, showcasing the impact that large investors can have on cryptocurrency prices.
Tags: SOL, WIF.