Dogwifhat hits new all-time high, whales reluctant to sell

Solana-based meme coin Dogwifhat continued its rally today, surging 17% and reaching a new peak of $4.61.

WIF is the largest weekly gainer on the crypto market, rallying nearly 90% in the past week. Dogwifhat’s rally has also impacted Solana’s performance, as the altcoin is up by 10% for the week.

Despite this rally, WIF’s trading volume remains rather stagnant. The meme coin’s daily trading volume has increased only 22%. According to Coinstats, one of the largest holders of the token is still not liquidating their profits.

The wallet holds a total of $139.5 million worth of WIF tokens, bought at an average price of $0.32, with a current unrealized profit of $127.3 million, according to CoinStats, one of the largest holders of the token is currently sitting on an unrealized profit of $127 million, holding $139.5 million worth of WIF.

The whale hasn’t sold its tokens for over a month now. With its latest all-time high, Dogwifhat is now the third-largest meme coin in the market.

It has now surpassed PEPE, BONK, and FLOKI, with a market cap of over $4.3 billion.