Recently, the dog meme coin has skyrocketed, and this article explains the journey of a meme coin called WIF, symbolized by a Shiba Inu, from $400 to $940,000. This article is sourced from an article published by Pika on X, compiled and translated by Shenchao.
(Previous summary: What is Dogwifhat? How did the narrative-less and community-less Dogwifhat become a Solana meme coin with a thousand-fold increase?)
(Background supplement: PEPE hits a new all-time high! Soaring nearly 400% in a single week, with a market value of 2.8 billion, ranking as the third largest meme coin.)
Table of Contents:
Phase 1: Meme Hunting
Phase 2: Stepping onto a New Platform
Phase 3: The Rise of WIF
Phase 4: What will happen if you hold?
Recently, I made a profit trading WIF, entering at $400 and exiting at $940,000! Many people have asked me how I did it, and my answer is: seizing both the opportunities of price increases and decreases, and finding opportunities during market fluctuations.
After experiencing two complete crypto cycles, I finally completed a trade worthy of writing an article. So, let’s begin.
In this phase, luck played a bigger role than skill.
Of course, knowing where to look is crucial, but stumbling upon the right token is more accidental than strategic or skillful.
Platforms like Telegram, Discord, or crypto Twitter are good places to find cryptocurrencies, but there is a high risk of rug pulling or being scammed when information reaches you.
Fortunately, my previous adventure into the Solana chain proved to be accidental.
While platforms like Dexscreener or Dextools are popular choices for many, they tend to lean towards Ethereum. For Solana, I highly recommend the website birdeye.
My search began with a simple criterion: catching my attention within 1-2 minutes. The token name had to be catchy, like a gem among many tokens.
Thus, I entered the “Find Gems” section in Birdeye.
Among countless names, one stood out: WIF, “dogwifhat.”
A quick check of its market cap showed it wasn’t large. Examining the security options tab, everything seemed orderly. The candlestick chart? Plain, but acceptable.
Then I searched Twitter and found @dogwifcoin with a profile picture of a dog wearing a hat.
A smile appeared on my face. Browsing through tweets and searching the $WIF hashtag, I chanced upon the legend of “dogwifhat.”
At that moment, I understood. I had to invest, regardless of the outcome. With insufficient funds in my Sol wallet, I made two trades of $200 each, promising to decide whether to increase my holdings once the price changed.
This is the story of how my $400 turned into an astonishing $45,000.
In the following days, I forgot about my investment. Then, one day, while I was busy with my own affairs, I decided to check my wallet.
And there it was: WIF, shining brightly, worth $45,000.
My first reaction was doubt. Could it be a glitch? I quickly checked the candlestick chart and confirmed that the price had indeed skyrocketed. The @dogwifcoin account gained followers exponentially, and the number of holders increased. It was madness.
Out of interest in these discussions, I found myself joining the WIF Telegram group, where the discussions never ceased. The chat was filled with stickers and pictures of dogs wearing various hats, causing bursts of laughter among the group members.
Everything was so simple yet fascinating. At that moment, I realized that this meme had infinite possibilities as an expandable kit. Just by swapping the dog’s hat, there were limitless possibilities (editor’s note: this is a meme in the community).
At that moment, I believed that my $45,000 investment was a huge one. Holding 2.08 million coins, I decided not to invest more.
But unfortunately, I still felt regret. Why did I only invest $400? I could have easily invested $1,000, $2,000, or even $4,000.
But such thinking was futile. I had to accept my decision and embrace the community I had joined.
From here on, there was a shift from luck to strategy.
With a balance of $60,000, I continued studying how doge, shib, pepe, and others achieved huge profits.
I realized that there were only two ways:
1. You must be at the extremes of the intelligence curve (either very high IQ or very low IQ).
2. You need to be wealthy enough to ignore a profit of $60,000.
I realized that I fell somewhere in between, so I devised a simple and precise plan: sell at the high points and buy at the low points.
Simple, right? Well, not entirely. As time went on, discussions surrounding WIF intensified. Many KOLs took notice, and its value soared to over $100,000. Normally, I would cash out quickly. But this time, discipline was crucial.
Then came the terrifying 70% drop, testing my determination. I instantly regretted not selling more.
The following two months were like a roller coaster ride, marked by significant drops and exciting surges.
Despite the challenges, I remained firm and even survived when the coin’s price dropped 70% to $0.07.
Nevertheless, as WIF became a hot topic on crypto Twitter, its market cap continued to expand. I set my sights on a lofty goal: $1 million or listing on Binance.
I traded in the frenzied market with a plan, selling gradually as the price soared.
With the listing on Binance nearing, I sold a large amount of remaining coins between $1.8 and $1.9.
Although I missed out on $60,000, I made that money in other trades with WIF. (Am I truly satisfied?)
If I had held all 2.08 million coins and sold them all at $1.9, what would the result be? Approximately $4 million.
If you can achieve that, you are a god.
In the end, I entered at $400 and exited at $940,000, securing profits.
How did I profit? I sold a lot of WIF when Sol was around $122-$128 and bought Sol.
I knew I wasn’t someone with an extremely high IQ who could predict prices accurately.
I also knew I wasn’t someone with an extremely low IQ who could perfectly execute dumb investments.
So, my advice is: seize both the opportunities of price increases and decreases, and find opportunities during market fluctuations.
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