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- The largest holder of WIF bought 2.5 million tokens at $2.03 per WIF.
- The whale holds 23.39 million WIF and has $83 million in profit on its holdings.
- ARB whale deposit $3.9 million worth tokens on Binance.
Major holders of two cryptocurrencies, the meme coin Dogwifhat (WIF) and Arbitrum (ARB), made significant moves on Tuesday, potentially signaling market shifts and sparking investor interest.
The largest holder of meme coin Dogwifhat (WIF) acquired an additional 2.5 million tokens at approximately 6:30 p.m. ET on Tuesday. Meanwhile, an Arbitrum (ARB) whale deposited 3.4 million tokens on leading crypto exchange Binance. These two significant whale movements attracted the attention of the crypto community.
According to data from Lookonchain, the wallet with the most WIF tokens utilized 4.6 million USD Coin (USDC) to acquire the 2.5 million WIF tokens at $2.03 per WIF.
Lookonchain noted that the wallet address currently holds 23.39 million WIF worth $49.6 million. The whale has reportedly generated roughly $83 million in profit on its WIF holdings as well. They also spent 86,738.1 Solana (SOL) tokens worth $8.65 million to buy 17.22 million WIF in one trade.
Shifting focus to Arbitrum, another notable whale activity on Tuesday involved two wallets belonging to GSR, a London-based crypto firm. The firm deposited a total of 3.466 million Arbitrum (ARB), worth approximately $3.92 million, on Binance, the world’s largest cryptocurrency exchange. Such large-scale movements often signal potential sell-offs, and investors are advised to prepare for increased market volatility.
The prices of both tokens responded to these whale movements. According to CoinMarketCap, WIF’s price increased by over 7% in the past 24 hours, reaching a high of $2.1650 from a low of $1.8078. The meme coin’s market capitalization is at $2.043 billion, ranking it 43rd among the top 50 digital assets.
Conversely, ARB’s price remained relatively stagnant at $0.8272, up by only 0.78%. The cryptocurrency’s trading volume declined by 36.92%, and its market cap currently stands at $2.66 billion
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