Dogwifhat (WIF), a Solana blockchain meme token, soared over 70% in the last 24 hours, driven by substantial whale investments and speculation about a Binance listing.
The price jump coincided with a flurry of large buy orders from an investor known as “Binanceinsider.sol.” Data from Lookonchain revealed that the whale bought 17.22 million WIF tokens for around $8.65 million.
The significant investment, together with the whale’s suggestive moniker, has fueled speculation about a potential Dogwifhat listing on Binance.
This is not the first instance of “binance-insider.sol” investing in WIF. Previously, the entity had purchased about 20 million tokens for around $225,000.
Following the latest purchase, “Binance-insider.sol” is now the second-largest holder of WIF, with a portfolio valued at nearly $7 million.
In the past 24 hours, WIF has increased by 70%, with trading volumes reaching $35.8 million on decentralized exchanges, according to DEXScreener. The token’s market capitalization is now over $230 million.
The rise has placed WIF seventh among meme tokens in terms of market capitalization, as per CoinMarketCap.
Although there has been no official statement from Binance regarding Dogwifhat’s listing, the community is eagerly awaiting any announcements following the token’s swift price rise and the activities of “binance-insider.sol.”
Dogwifhat has emerged as one of the most notable tokens in the Solana ecosystem, gaining prominence with Bonk (BONK) and other tokens during a surge in meme coin interest on the blockchain in December.
Source: https://crypto.news/solana-meme-coin-dogwifhat-soars-70-amid-buzz-of-potential-binance-listing/