Dogwifhat (WIF), a popular meme token on the Solana blockchain, experienced a meteoric rise of over 100% in a matter of 12 hours, fueled by a combination of significant whale purchases and speculation surrounding a potential listing on largest crypto exchange Binance.
The surge was accompanied by a series of large buy orders placed by an individual with the online handle "Binanceinsider.sol." According to Lookonchain data, a mysterious investor acquired a staggering 17.22 million WIF tokens for approximately $8.65 million earlier today. This substantial investment, coupled with the whale's suggestive moniker, has ignited speculation that Binance might be considering listing Dogwifhat in the near future.
This is not the first time "binance-insider.sol" has shown interest in WIF. The same entity reportedly purchased nearly 20 million tokens for a mere $225,000 earlier. With today's sizable purchase, "binance-insider.sol" has become the second-largest holder of WIF, holding a portfolio currently valued at close to $7 million.
Hat still on
The whales' activity has had a profound impact on Dogwifhat's price, propelling it from $0.10 to a peak of $0.213 within a few hours. This surge has catapulted WIF into seventh place among meme tokens by market capitalization, according to CoinMarketCap.
While Binance has yet to officially comment on any potential listing plans for Dogwifhat, the community remains abuzz with anticipation. The token's rapid price appreciation and the "binance-insider.sol" saga have created a perfect storm of excitement, leaving investors wondering if WIF is poised for a major listing.