WOJAK Coin Price Drops 81% From ATH Within Two Days

Wojak coin price plummeted after charting a new ATH

Key Takeaways:

Meme token WOJAK price shed 81% of its value within two days of reaching ATH.
Two whale wallets made significant unrealized profits from Wojak price rise.

NEW DELHI (CoinChapter.com) — Meme tokens seem to have recaptured the interest of the “invest by Monday, get rich by Monday night” crowd of crypto traders. A flurry of new meme tokens has stormed the markets, including one Wojak token.

After launching on April 18, the WOJAK coin price rose steadily to register 179% gains in just 24 hours. The rally helped the Wojak meme coin chart an all-time high of $0.0003346 before the profit booking began.

WOJAK prices saw a steep drop after reaching an ATH on April 19. Source: CoinMarketCap

Afterward, the WOJAK coin price dropped to a low of $0.0000538 on April 21 before recovering marginally. Per CoinMarketCap, the project’s circulating supply remained unverified at the time of writing. However, the project’s self-reported circulating supply was 69,420,000,000 WOJAK coins.

The project aims to use blockchain technology to create an ecosystem for meme lovers. The platform promises a “user-friendly interface and intuitive navigation” for users to interact.

Wojak Whale Transactions

The token is based on the Wojak meme, aka feels guy, which netizens use as a reaction image to represent feelings of melancholy and regret. However, the Wojak meme coin price has made two crypto whales happy, per data from on-chain data provider Spot On Chain.

Also Read: Crypto Lender BlockFi is Given More Time to File Chapter 11‍

In an April 19 tweet, the crypto analyst highlighted transactions from two whale accounts.

One of the whale accounts exchanged 2.05 ETH for 1.76 billion WOJAK tokens through four different wallet transactions. The account had not dumped its holdings at the time of writing.

Additionally, the second whale wallet (0xc06f69e6d9d24eaa3e58511dab241e2c887d17dd) swapped 1 ETH for 256.6 million Wojak tokens on April 18. Afterward, the wallet swapped 80 million Wojak tokens for 11 ETH.

Despite the swap, the wallet still held 176 million WOJAK coins.

However, traders should be cautious of the meme token, as most profits remain unrealized. Wojak coin price dropping over 81% indicates the volatility of the token. Additionally, the absence of any white paper makes it difficult to assess the project’s roadmap and tokenomics.