Trader Takes $1.65M Profit On 'Shiba Inu Killer' Dogwifhat, But Keeps 75%: 'Hanging On As Much As I Can'
Portfolio Pulse from Khyathi Dalal
A cryptocurrency trader, Blockgraze, sold 25% of their Dogwifhat (WIF) holdings for $1.65 million, converting the proceeds into Solana (SOL). Despite the global crypto market's downturn, Dogwifhat has seen significant gains, with its valuation reaching $3 billion. The token's resilience is highlighted by its recent $650,000 fundraising for a Las Vegas sphere display. Additionally, an NFT featuring the 'dog with hat' is being auctioned, currently bidding at 6.942 ETH.
March 15, 2024 | 6:36 pm
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POSITIVE IMPACT
Blockgraze invested the $1.65 million proceeds from their Dogwifhat sale into Solana, indicating a shift in investment strategy towards a platform with a strong foundation in the crypto market.
The decision by Blockgraze to invest in Solana after selling a portion of Dogwifhat holdings could signal confidence in Solana's potential for stability or growth, especially in a volatile market. This move might attract attention to Solana as a viable investment option.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Blockgraze sold 25% of their Dogwifhat holdings for $1.65 million, indicating a significant profit despite the global crypto market's downturn. Dogwifhat's valuation has reached $3 billion, with recent gains of 40% weekly and 570% monthly.
The sale by Blockgraze and the subsequent investment in Solana, along with Dogwifhat's recent performance and fundraising achievements, suggest a mixed impact. The asset's resilience and support from industry figures could maintain investor interest, but the market's overall volatility introduces uncertainty.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100