Dogwifhat (WIF) Solana Meme Coin Helps One Crypto Trader Turn $1K Into $100K

Updated: 05 March 2024

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A cute new Solana meme coin called Dogwifhat (WIF) has made one lucky trader a lot of money.

A pseudonymous crypto trader called Blockgraze told Coin Desk that he purchased $1,000 of the meme coin in late November and that now it’s worth more than $100,000.

The trader purchased WIF shortly after its launch on Solana because he thought a dog wearing a hat was ”very funny.” He has already cashed out $25,000 of the profits, while he still holds the rest in his wallet.

Dog-themed meme coins have performed strongly recently with BONK, another Solana-based memecoin, soaring more than 90% today after its listing on Binance and KuCoin. It is also set for a Coinbase listing.

The bull market is barely under way and $BONK is doing a 200x.

In the meantime, $SATS, $RATS and similar tokens are following $BONK in their footsteps.

Mental, but good signs that the market sentiment has shifted.

Does it mean you should buy these? I wouldn't at this point.

— Michaël van de Poppe (@CryptoMichNL) December 15, 2023

Blockgraze told Coin Desk that the 100x gain was more about luck than skill, and that the purchase was like gambling.

“The secret is to be an idiot I think,” he said. “I should have probably sold several times, but the dog had a hat.”

Finding The Next Dogwifhat (WIF)

With Pomp Investments founder Anthony Pompliano saying that a Bitcoin bull run has already begun, altcoins are today riding a wave of buoyant market sentiment.

Picking the next 100x crypto gem gem is always a tough ask, but one YouTube analyst says Meme Kombat, a new crypto GameFi project running on Ethereum, has the potential for at least 10x gains.

The project is currently in presale and is close to reaching its price target of $3.5 million after a whale bought tokens worth $200,000.