Following a recent price increase, investors are watching to see if WIF can begin to attract new traders, as recent onchain activity shows participation is declining and becoming more concentrated among large wallets.
WIF sees daily gain but lags other memecoins
The price of WIF increased by
↗4%
over the last 24 hours, though it continues to underperform over a wider timeframe. The asset fell
↘9%
over the past week, a steeper decline than the
↘3%
average for the memecoin category.
Large wallets drive a surge in trading volume
A recent surge in onchain activity saw WIF's trading volume grow by
↗113%
in 24 hours. Data shows this spike was driven primarily by large wallets, which accounted for approximately
86%
of the total volume.
Participation from new and unique traders declines
This concentration of activity occurred as the number of smaller participants shrank. Over the same 24-hour period, the number of unique traders fell by
↘23%
, and the count of new traders entering the market dropped by
↘32%
.