Ethereum Dogwifhat: 12 Suspected Insider Crypto Wallets Pocket Over $1.3 Million
Over the weekend, there were suspicious activities surrounding the Ethereum version of dogwifhat (WIF) where it was pumped and dumped within a few hours, resulting in some questionable data. It has been discovered that 12 crypto wallets with a significant supply of Ethereum WIF tokens managed to pocket a staggering $1.3 million. These wallets are believed to be insiders of the project, as evidenced by their purchase of 24 million WIF tokens for $3,000 in ETH. The timing of their purchases suggests that they knew exactly when the tokens would be issued and traded.
Ethereum Dogwifhat: Word from the Creator
The creator of the crypto dogwifhat, known as issa, came forward on Saturday to clarify that they have no affiliation with the Solana-based WIF coin, which gained popularity in the crypto space. They announced their plan to launch the REAL dogwifhat on Ethereum. It is important to note that the Ethereum version is not connected to the Solana-based WIF.
Seventh Crypto in the Meme Category
In terms of meme cryptos by market capitalization, Solana-based dogwifhat (WIF) ranks seventh with a market cap of over $217 million. It is closely behind other meme cryptos like FLOKI and MEME. However, Dogecoin remains dominant with a market cap of over $11 billion, followed by SHIB and BONK.
In the past month, Solana-based WIF has experienced a price pump of 97%, reaching a high of $0.45 before settling at its current price of $0.21.
Hot Take: Insiders Exploit Ethereum Dogwifhat for Massive Gains
It appears that insiders of the Ethereum dogwifhat project took advantage of their positions to pocket over $1.3 million. The suspicious activities surrounding the pumping and dumping of WIF tokens suggest that these insiders had prior knowledge of when the tokens would be issued and traded. This incident raises questions about transparency and fairness within the project. Additionally, the creator of dogwifhat clarified their lack of affiliation with the Solana-based WIF coin and announced plans to launch the authentic version on Ethereum. As meme cryptos continue to gain popularity, it is crucial for investors to exercise caution and conduct thorough research before engaging in any transactions.
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