Summary
The Ethereum version of meme coin Dogwifhat (WIF) was released and many crypto wallets received over $1.3 million. More than a dozen wallets, described as “insiders,” purchased 24 million Ethereum WIFs, leading to a jump in price. However, concerns over ownership of the token caused the price to fall over 80%. The creator of the original meme, @issa, clarified that they have no relationship with the Ethereum WIF. Despite this, strong demand for the token continues, with over $7.7 million sold in the past 24 hours. The debate over which is the real WIF meme token in the crypto industry continues.
Key Points
1. Many crypto asset wallets received over $1.3 million in the Ethereum version of meme coin Dogwifhat (WIF) after its release.
2. The Ethereum version of Dogwifhat is not related to the Solana-based WIF, which has a market capitalization of over $350 million.
3. Several wallets described as “insiders” purchased 24 million Ethereum WIFs for $3,000 worth of ETH, knowing exactly when the tokens would be issued and traded. However, the price of the token has fallen more than 80% since February 3 due to concerns over ownership.