Dogwifhat and Popcat sell-off as whale dumps tokens
Dogwifhat (WIF) price was down 11% on the day as top meme coins struggled.
The Popcat (POPCAT) token also traded lower, falling by 20% in 24 hours.
A whale has dumped both WIF and POPCAT tokens at a loss.
Dogwifhat ($WIF) and Popcat (POPCAT) are down double-digits in the past 24 hours as the overall meme coins market experiences a significant sell-off.
Dogwifhat sheds 11% amid meme coin slip
WIF, one the tokens to catayse the rise of meme tokens on the Solana network, was down 11% in 24 hours on May 18.
Dogwifhat price has declined by 17% in the past week. WIF currently trades at $2.56.
Comparatively, top meme coins Dogecoin, Shiba Inu, Pepe and Floki are all green in the last seven days despite shedding gains in the 24-hour period. These tokens are however in the red in the past 24 hours.
Popcat (POPCAT) down 20% in 24 hours
As well as Dogwifthat, another meme token losing by double-digits in the past day and week is Popcat. The Solana internet meme token is down 20% over the last 24 hours to see weekly loses hit 14%.
Popcat’s lack of inherent value is likely to contribute to further price pressures if bears intensify their control in the meme coin market.
The token changed hands around $0.3, down more than 48% since hitting an all-time high above $0.71 on May 4.
Whale dumps WIF and POPCAT
As noted by Lookonchain, onchain data shows a whale has dumped WIF and POPCAT at a loss just days after splashing on the meme tokens.
The whale bought $2.18 million worth of WIF, acquiring 732,481 WIF tokens at the price of $2.98 three days ago. Data also shows the large meme holder scooped 716,344 POPCAT at $0.5 for a total of $361,000.
Today, the whale dumped 732,481 WIF for $1.85 million and 716,344 $POPCAT for $281,000. This resulted in losses of $336,000 on Dogwifhat and $80,000 on POPCAT.
The post Dogwifhat and Popcat sell-off as whale dumps tokens appeared first on CoinJournal.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings