Apparent 'Insiders’ Make Millions After Grabbing Ethereum Version of Dogwifhat
Over the weekend, several crypto wallets acquired over $1.3 million of the Ethereum version of meme coin dogwifhat (WIF). The Ethereum WIF is not linked to the Solana-based WIF, which launched in November and achieved a market capitalization of over $350 million. According to Lookonchain, 12 "insider" wallets bought 24 million Ethereum WIF tokens for $3,000 in ether. The tokens' price surged from fractions of a penny to 30 cents before dropping more than 80% due to ownership concerns. The Ethereum WIF was issued by a user named @issa, who claimed to be the original creator of the dogwifhat meme. @issa's involvement with Ethereum WIF tokens led to strong demand, with trading volumes reaching $7.7 million in the past 24 hours from over 4,500 holders. There is ongoing debate about which is the real WIF meme token.
