Crypto Trader Makes $1.47 Million in 5 Days Thanks to New Solana-Based Memecoin Dogwifhat

A cryptocurrency dealer has managed to show $226,000 value of the Solana-based meme-inspired cryptocurrency Dogwifhat ($WIF) after the value of the cryptopcurrency surged by greater than 8,000% during the last 30-day interval, outperforming the broader cryptocurrency market.

In response to out there information the cryptocurrency’s worth has climbed from a hundredth of a penny to round $0.19 on the time of writing as its adoption seemingly grows after a group of 550 Dogwifhat Solana non-fungible tokens (NFTs) launched earlier this month, with the most affordable merchandise of the gathering now promoting for over 13 SOL tokens.

On-chain evaluation service Lookonchain has revealed that one cryptocurrency dealer who guess $226,000 into the cryptocurrency has managed to show a revenue of $1.47 million in simply 5 days to now have a stash of over $1.69 million.

The WIF token has been outperforming the broader cryptocurrency market and even rival Solana-based memecoin BONK which surged greater than 600% during the last 30 days and is now up greater than 1,900% to this point this 12 months.

BONK’s sudden surge noticed the Solana Saga smartphone, which as soon as confronted sluggish gross sales, promote out because of an included 30 million BONK airdrop, which at its excessive was woth greater than the smartphone itself.

This disparity has sparked a surge in gross sales, with the Saga telephone’s gross sales figures multiplying greater than tenfold in simply 48 hours. Solana co-founder Raj Gokal confirmed this dramatic enhance, which has seen the telephone promote out. On eBay, the telephone has been promoting for over $5,000.

The cryptocurrency’s workforce describes it as the primary Shiba Inu-themed Solana-based cryptocurrency that’s “for the individuals, by the individuals.” 

Earlier this 12 months, BONK moved to burn a complete of 5 trillion tokens that have been allotted to them, at a time by which the digital asset’s worth was dropping after shifting up considerably after launch.

Featured picture by way of Unsplash.