Recently, the dog meme coin has skyrocketed in value. This article explains the journey of a meme coin called WIF, symbolized by a Shiba Inu, from $400 to $940,000. The article is sourced from Pika’s publication on X and compiled and translated by Deep Tide.
(Background information:
What is Dogwifhat? How did the narrative-less and community-less Dogwifhat become a thousand-fold meme coin on Solana?
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(Background supplement:
PEPE reaches a historical high! It surged nearly 400% in a week, with a market cap of 2.8 billion pounds, ranking as the third-largest meme coin.
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Table of Contents
Phase One: Meme Hunting
Phase Two: Ascending to a New Level
Phase Three: The Rise of WIF
Phase Four: What would happen if you hold it?
Recently, I made a profit by trading WIF. I entered with $400 and exited with $940,000! Many people have asked me how I did it, and my answer is simple: seize the opportunities of both the rise and fall, and find opportunities during market fluctuations.
After experiencing two complete crypto cycles, I finally completed a trade worth writing an article about. So, let’s begin.
A reminder for the community: WIF is currently highly volatile. Investors should be cautious and avoid FOMO.
During 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 discover cryptocurrencies, but there is a high risk of being rug-pulled or manipulated when the information reaches you.
Fortunately, my previous adventure into the Solana chain proved to be accidental.
While platforms like Dexscreener or Dextools are the preferred choices for many, they tend to lean towards Ethereum. For Solana, I recommend the website Birdeye.
My search started with a simple criterion: catching my attention within 1-2 minutes. The token name had to be catchy, like a gem among many tokens.
So, I entered the “Find Gems” section on Birdeye.
Among countless names, one stood out: WIF, “dogwifhat”.
A quick check on the market cap showed it wasn’t very large. The security options seemed well-organized upon closer examination. The candlestick chart? Average, but acceptable.
Next, I searched on Twitter and found @dogwifcoin, accompanied by a profile picture of a dog wearing a hat.
A smile appeared on my face. Browsing through the tweets and searching the $WIF tag, I accidentally discovered the legend of “dogwifhat”.
That moment, I understood. I had to invest, regardless of whether it was good or bad. With insufficient funds in my Sol wallet, I made two transactions of $200 each and promised to decide whether to increase my holdings once the price changed.
And that’s 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.
There it was, shining brightly, WIF, worth $45,000.
My initial reaction was skepticism. Could it be a glitch? I quickly checked the candlestick chart and realized that the coin’s price had indeed skyrocketed. The @dogwifcoin account gained a large number of followers, and the number of holders increased. It was madness.
Out of curiosity about 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, provoking laughter among the group members.
Everything was so simple yet fascinating. At that moment, I realized that this meme had infinite expandability. Just by swapping the dog’s hat, there were endless possibilities (editor’s note: this is an inside joke within the community).
At that moment, I considered my $45,000 investment a huge one. With 2.08 million coins in hand, I decided not to invest further.
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.
However, such thoughts were futile. I had to accept my decision and embrace the community I had joined.
From here, there was a shift from luck to strategy.
With a remaining balance of $60,000, I continued researching how Doge, Shib, Pepe, and others achieved enormous profits.
I discovered that there were only two ways:
1. You had to be at the extremes of the intelligence curve (either very high or very low intelligence).
2. You needed to be wealthy enough to ignore a $60,000 profit.
I realized that I fell somewhere in between, so I devised a simple and precise plan: sell at the peak and buy at the low point.
Simple, right? Well, not entirely. As time went on, discussions surrounding WIF intensified. Many Key Opinion Leaders (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 next two months were like a turbulent roller coaster ride, marked by significant drops and exciting rises.
Despite the challenges, I remained steadfast and survived even when the coin’s price plummeted 70% to $0.07.
Nevertheless, as WIF became a hot topic on Crypto Twitter and its market cap continued to expand, I set my sights on a lofty goal: $1 million or listing on Binance Spot.
I strategically traded in the frenzy of the market, gradually selling between $1.8 and $1.9.
Although I missed out on $60,000, I made that money in my other WIF trades. (Am I truly satisfied?)
What would be the result if I held all 2.08 million coins until the end and sold them all at $1.9? Approximately $4 million.
If you can achieve that, you’re a god.
In the end, I entered with $400 and exited with $940,000.
What if WIF rises to $4? What if it reaches $10? Anything is possible. But I had a target in mind, and I diligently executed my investment principles!
How did I make a profit? I sold a significant amount of WIF and bought Sol when it was around $122-128. I knew I wasn’t someone with exceptional intelligence who could accurately predict prices. I also knew I wasn’t someone with extremely low intelligence who could perfectly execute dumb investments. So, my advice is to seize opportunities in both the rise and fall and find opportunities during market fluctuations.
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