- Dogwifhat (WIF) price Popcat Dogwifhat whale dumps were down 11% on the day as top meme coins struggled.
- The Popcat token also traded lower, falling by 20% in 24 hours.
- A whale has dumped both WIF and POPCAT tokens at a loss.
As the market for meme currencies has taken a nosedive, Dogwifhat ($WIF) and Popcat Dogwifhat whale dumps (POPCAT) have fallen by double digits in the last day.
Dogwifhat sheds 11% amid meme coin slip
On May 18, WIF, a token that helped propel meme tokens on the Solana network, fell 11% in a single day. This last week, the price of Dogwifhat dropped by seventeen percent. At the moment, WIF is selling for $2.56.
Although they lost ground on the last day, the leading meme coins Dogecoin, Shiba Inu, Pepe, and Floki have all profited during the past week. On the other hand, these tokens have lost value over the last day.
Popcat (POPCAT) down 20% in 24 hours
Not just Dogwifthat, but Popcat Dogwifhat whale dumps is another meme token that has also lost double digits in the last day and week. After falling 14% last week, the Solana online meme token has fallen 20% in the past 24 hours.
If bears tighten their grip on the meme coin market, Popcat’s intrinsically low value will add to the price pressures. Since reaching a record high of $0.71 on May 4, the token has fallen more than 48%, changing hands around $0.3.
Whale dumps WIF and POPCAT.
Lookonchain reports that on-chain data indicates a whale has sold WIF and POPCAT tokens at a loss shortly after jumping on the meme tokens. At $2.98 three days ago, the whale purchased 732,481 WIF tokens, amounting to $2.18 million in WIF. The data also shows that the big meme holder made $361,000 after scooping 716,344 POPCAT at $0.5 each. The whale dropped 716,344 $POPCAT for $281,000 and 732,481 WIF for $1.85 million today. Because of this, Dogwifhat lost $336,000 and POPCAT lost $80,000.
Market Anarchy Spurs Massive Dump of Dogwifhat (WIF), PEPE, and Other Meme Coins
During market turbulence last week, Dogwifhat (WIF) and PEPE were the meme coins everyone was talking about. The value of WIF, a popular meme token on Solana, fell from $3.4—its weekly high—by an astounding 25%. Similarly, POPCAT, another meme coin based on Solana, fell 34% and hit its lowest point since the middle of April.
Meanwhile, investor confidence was shaken when the Ethereum-based PEPE token, which had previously shot to unprecedented heights earlier in the week, saw a sell-off of 18.5%. Amidst this gloom, stories concerning the biggest holders’ actions that may have affected these price fluctuations started popping up all over the crypto industry.
So, according to Lookonchain’s claims, a whale calculated to sell 1.7 million WIF at a loss and then traded them for other meme coins on Solana when their value dropped. Aside from WIF, the value of BONK and other meme tokens was also affected by this action. A different whale lost money when it sold WIF and POPCAT. Can meme coins such as PEPE and WIF bounce back from these heavy losses? Given the present market uncertainty, what tactics will big token holders use?
