Memecoin Whale Shifts From $WIF to $BONK as Price Slumps

The recent dip in the price of the crypto token $WIF has compelled the whales to make astonishing decisions. In this respect, a whale has reportedly incurred a loss in selling $WIF tokens to purchase $BONK and $TREMP coins after a significant dip took place in the price. Lookonchain, a well-known on-chain analytics platform, provided the details of this development on its official X account.

A whale is selling 1.7M $WIF($4.4M) at a loss to buy $tremp and $BONK after the $WIF price dropped.

Which caused the price of $tremp and $BONK to increase.

The whale spent 25,682 $SOL($5M) to buy 1.7M $WIF at $2.94 on Mar 17.

After the $WIF price dropped, he started selling… pic.twitter.com/Ad8mdvLc50

— Lookonchain (@lookonchain) May 19, 2024

A Whale Incurs Losses by Selling $WIF to Buy $BONK and $TREMP Tokens Amid a Price Dip

As per the on-chain analytics provider, the whale reportedly sold up to 1.7 million $WIF tokens. Lookonchain added that the whale intended to purchase $BONK and $tremp tokens in return for that sale. The value of the respective tokens was nearly $4.4 million when the whale was selling them. The recent plunge in the price of the $WIF coin potentially contributed to the respective event.

While providing the background of this move, Lookonchain discussed how the whale bought the $WIF tokens in the first place. It revealed that the whale spent up to 25,682 $SOL tokens for that purpose. By utilizing these $SOL tokens, with a value of nearly $5 million, the whale reportedly purchased 1.7 million $WIF coins. This took place on the 17^th of March this year when the value of the $WIF token was approximately $2.94.

The Whale Sells 1.7 Million $WIF Cumulatively for $BONK and $TREMP

Nonetheless, a sheer decline in the token’s price paved the way for the drastic decisions. Lookonchain mentioned that the whale moved forward to experience loss by selling the $WIF tokens. Subsequently, the whale began to purchase $BONK and $tremp tokens.

As a result of this, the price of the $BONK and $TREMP tokens started to elevate. Up till now, the whale has sold 1.28 million $WIF (nearly $3.3 million) for 127.16 billion $BONK. Moreover, he has sold almost 410,688 $WIF (equaling $1.06 million) for nearly 966K $tremp.