How One Trader Missed Making $693 Million With WIF

Dogwifhat developer makes a $693 million mistake

Had they held onto those coins instead of selling them, they would now be worth a staggering $693 million based on WIF’s current price.

While the developer was likely trying to secure some profits after launch, the opportunity cost of selling so swiftly was massive. WIF prices exploded in short order, with the coin rising over 1,100% in the past 30 days alone. It serves as a cautionary example that timing the often volatile crypto markets can be exceedingly difficult.

However, the developer did not sell their entire supply right away. Lookonchain points out that they still held a separate wallet with 489,674 WIF tokens that were not immediately traded.

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Around $110 was spent to acquire those coins, which have since appreciated to $1.17 million in value. So while the profits could have been substantially higher, the developer likely still netted a life-changing amount.

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While the developer no doubt still came out ahead, the lost opportunity of nearly $700 million will likely haunt them for some time. It serves as a lesson to the crypto community about the virtues of patience and avoiding reactionary selling during periods of extreme market volatility.