A wealthy investor has started buying large amounts of a cryptocurrency similar to Dogecoin from the popular US crypto exchange Coinbase.
Details of the Purchase
According to data from the digital asset tracker Lookonchain, the investor spent $606,000 to buy almost 228,000 units of the memecoin dogwifhat (WIF).
Other Whale Activity
Lookonchain also reported that another whale made significant profits by trading GME, a memecoin inspired by the GameStop short squeeze. The whale bought GME at a low price and sold it for a profit of around $593,000.
Current Market Status
At the time of writing, WIF is trading at $2.83, up 10.7% in the last 24 hours. GME, however, has dropped nearly 18% to $0.00575.
