By Nermeen Nabil Khear 
TLDR
- Dogwifhat (WIF) whale transferred 1.2M tokens ($3.47M) to Coinbase after turning $393K into $3M profit
- Move comes during broader crypto market turbulence with $1.76B in recent liquidations
- WIF price dropped 3.5% to $2.87 after the whale’s transfer
- Token currently trading 41% below its all-time high of $4.85
- Technical analysis suggests potential $10 price target by end of 2025 if key resistance levels are broken
A major holder of the Dogwifhat cryptocurrency has moved tokens worth $3.47 million to Coinbase, triggering price movements and market reactions. The transfer occurred during a period of heightened volatility in the broader cryptocurrency market.
Blockchain analytics platform Lookonchain identified the whale’s movement of 1.2 million WIF tokens to the popular cryptocurrency exchange. The wallet address, identified as 72X13Krh1nCM on Solscan, originally acquired these tokens through an initial investment of $393,000 approximately eleven months ago.
The timing of this transfer coincides with recent market-wide turbulence. Cryptocurrency markets have experienced substantial liquidations, with the total value reaching $1.76 billion across various digital assets. Dogwifhat itself saw $22 million in liquidations during December 9 and 10, according to data from Coinglass.
Following the whale’s transfer to Coinbase, the WIF token price experienced a decline of approximately 3.5 percent, settling at $2.87. The token’s trading range for the 24-hour period showed a low of $2.66 and a high of $3.01.
Market data indicates that WIF is currently trading 41 percent below its all-time high price of $4.85. The recent price movement reflects the immediate market reaction to the whale’s decision to move their holdings to an exchange.
The whale’s original investment strategy proved highly profitable, turning $393,000 into approximately $3.47 million. This represents a return on investment that showcases the potential volatility and opportunity within the cryptocurrency market.
Trading volumes for WIF have shown increased activity following the whale’s movement. This uptick in volume indicates heightened market interest and participation from traders responding to the price action.
Technical analysts watching the WIF price charts have identified $4.00 as a key resistance level. Breaking through this price point could potentially lead to testing the previous all-time high of $4.85.
Market participants are closely monitoring exchange inflows and outflows for WIF, as these metrics often provide insights into potential selling or buying pressure. The movement of large quantities of tokens to exchanges sometimes precedes increased selling activity.
The broader cryptocurrency market context plays an important role in WIF’s price action. Recent market-wide volatility has affected various digital assets, with altcoins particularly impacted by the turbulent conditions.
Data from cryptocurrency exchanges shows varying levels of liquidity for WIF across different trading pairs. This liquidity distribution can influence price stability and trading efficiency during periods of high market activity.
Short-term price movements for WIF have demonstrated increased volatility following the whale’s transfer. Trading patterns show reactions from both buyers and sellers as the market adjusts to the new supply dynamics.
Historical data for WIF indicates previous instances of price recovery following similar large token movements. However, each market situation presents unique circumstances that affect price development.
Current market metrics for WIF show trading activity across multiple exchanges, with Coinbase receiving increased attention due to the recent whale transfer. Trading pairs with both stablecoins and major cryptocurrencies continue to show active market participation.
Price charts for WIF display the token’s reaction to various support and resistance levels during recent trading sessions. These technical indicators help traders understand potential price movement ranges.
The blockchain data for WIF reveals continued network activity and token movements across various addresses. This on-chain activity provides transparency into market participant behavior and token distribution patterns.
The post Dogwifhat (WIF) Price: Whale Moves 1.2M Tokens Worth $3.47M appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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