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Dogwifhat WIF/USD is up 8% on the day and 26% on the week, closely following its rival Shiba Inu SHIB/USD as traders see more upside playing out shortly.

What Happened: On-chain data provider Lookonchain shows a major WIF holder borrowing 2 million USDC/USD from the Solana SOL/USD DeFi protocol Kamino to buy an additional 894,854 WIF at $2.24 each. The whale now holds 32.1 million WIF, equivalent to $71 million, and has made a total profit exceeding $86 million.

With WIF's rally at 27% over the past week, crypto trader Rekt Capital sees the meme coin at the edge of starting a new macro uptrend after breaking its multi-month downtrend.

Unipcs thinks the main move for Dogwifhat has not yet come.

$WIF continues to look really incredible here

and has so far outperformed almost every other major memecoin

the interesting thing is that the main move isn't in for WIF yet

get ready https://t.co/AyV0iJKYTF pic.twitter.com/CAGwqy2XcJ — Unipcs (aka 'Bonk Guy') 🎒 (@theunipcs) September 26, 2024

On the other hand, crypto trader Gumshoe stated that Binance users are buying Dogwifhat. Over the past seven days, around $35 million worth of WIF has been transferred from Binance. The trader added that "when you see outflows from exchanges, people are buying and take self-custody."

Another trader thinks WIF could repeat its February surge and appreciate 1,600% in 48 days after triggering a bullish indicator.

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