The largest dogecoin holder is increasing its holdings while other meme coin whales are selling, according to on-chain data.
Blockchain tracking company Lookonchain reported that the top dogecoin holder acquired over 23 million additional WIF tokens, spending $4.65 million at a price of $203 per token on June 25. This brings their total WIF holdings to 23.39 million, worth $49.6 million, with profits of around $83 million. They also spent $8.65 million to purchase 17.22 million WIF in a separate transaction.
At the time of writing, WIF was trading at $2, down nearly 3% in the past 24 hours.
Meanwhile, Lookonchain also reported that another WIF whale who suffered significant losses in meme coin trading has just bought more, spending $3.77 million to repurchase 2.06 million WIF at an average price of $1.83. This whale had previously sold at a lower price and then bought back in at a higher price.
In addition, Lookonchain reported that a whale has just sold 700 billion Pepe tokens, surrendering and depositing them on Binance, with a remaining total loss of approximately $3.5 million.
At the time of writing, Pepe was trading at $0.00001254, down nearly 2% in the past 24 hours.
Finally, Lookonchain pointed out that a whale has made significant profits by selling all of their Shiba Inu (SHIB) holdings, depositing $18.4 million worth of SHIB on Binance on June 24 and profiting approximately $8.3 million. This whale had previously withdrawn the same amount of SHIB from Binance at a cost of approximately $10.07 million in November and December 2023, resulting in an unrealized profit of $29 million at the peak of SHIB.
At the time of writing, SHIB was trading at $0.00001733, down 3.5% in the past 24 hours.
