Whale Makes Significant $WIF Purchase Using $SOL, Driving Price Increase
In a recent development, a prominent whale has made a substantial purchase of $WIF tokens with the objective of boosting its price. According to Lookonchain, a well-known on-chain analytics platform, the whale utilized $SOL tokens to acquire the $WIF tokens, effectively driving up their value. This event was revealed by the analytics company on its X account.
The whale reportedly spent 17,966 $SOL tokens (equivalent to $2.98M) to purchase a staggering 953,177 $WIF tokens at a rate of $3.13 over the past five hours. As a result of this significant buy, the price of $WIF experienced an approximate 7% spike.
This is not the first instance of the whale engaging in a $WIF token buyout. Previously, the whale had acquired 355,417 $WIF tokens at an average price of $2.81 using 1 million $USDC tokens on May 21. The whale later sold these tokens at $3.07 on May 22, resulting in a profit of $90K.
Lookonchain emphasized that the latest purchase by the whale, made using $SOL tokens, was specifically aimed at increasing the value of the $WIF token. The analytics platform also highlighted that the purchase occurred within the last five hours, after which the price of $WIF experienced a significant surge.