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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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
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