Whales take profit on WIF holdings, meme coin wipes out nearly 20% gains from May top

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Whales take profit on WIF holdings, meme coin wipes out nearly 20% gains from May top
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Dogwifhat (WIF) price wiped out 20% gains since its May peak of $3.6799.

Whale wallets holding WIF have sold their holdings, taking profit while the meme coin is nearly 20% below its monthly high. Whales accumulated WIF ahead of the meme coin’s climb to a high of $3.28 on May 22. WIF could wipe out gains from Wednesday if profit taking persists. Dogwifhat price wiped out 20% gains since its May peak of $3.6799. The meme coin overcame resistance at $2.90 on May 22, the Solana-based asset could attempt another recovery as the category rallies in the past 24 hours.

44 million USD Coin at an average price of $3.155. Following the whale’s token sale, the meme coin wiped out its value by 6%. A whale sold all 2.36M $WIF for 7.44M $USDC at an average price of $3.155 in the past 2 hours. This caused the price of $WIF to drop from $3.25 to $3.05, a decrease of 6.2%.https://t.co/S9l5fo39L2https://t.co/OQJb6bHLVb pic.twitter.com/VRQ7x8gxXz — Lookonchain May 22, 2024 Another large wallet investor sold 500,774 WIF for 1.47 million USDC, at an average price of $2.94.

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