In a significant move for Solana’s meme coin ecosystem, a prominent whale (address: DWhUa) has reportedly accumulated $18.2 million worth of four major meme tokens within the past 14 hours.
Despite this accumulation, two of the tokens, WIF and POPCAT, have experienced notable price declines, adding intrigue to the whale’s strategy.
Massive Meme Coin Purchases
WIF Acquisition
The whale withdrew 7.18 million WIF tokens (valued at $13.3 million) from Binance at an average price of $1.838. This makes up the bulk of their recent acquisitions.
POPCAT Investments
The whale also demonstrated strong interest in POPCAT, accumulating 5.77 million tokens for $3.41 million at an average price of $0.59. This included withdrawing 1.876 million POPCAT ($1.26 million) from Bybit and purchasing 3.894 million POPCAT using 2.15 million USDC via decentralized exchanges (DEXs).
Additional Accumulations
– FWOG: The whale spent 979,815 USDC to purchase 4.57 million FWOG tokens at an average price of $0.2144.
– Michi: They also acquired 3.9 million Michi tokens for 469,885 USDC at an average price of $0.12.
Whale Transfers and Market Impact
Following these acquisitions, all tokens were transferred to and stored in a newly created wallet. Despite this accumulation, both WIF and POPCAT have suffered significant price declines of 11.35% and 17.33%, respectively, over the last 24 hours.
Big #memecoins accumulation on #Solana detected!
In the past 14 hours, whale "DWhUa" has allegedly purchased $18.57M worth of 4 meme coins via Binance and DEX, including:
• 7.249 $WIF ($13.3M)
• 5.77M $POPCAT ($3.82M)
• 4.57M $FWOG ($980K)
• 3.9M $michi ($470K)All these… pic.twitter.com/plT0JzGKFq
— Spot On Chain (@spotonchain) January 8, 2025
Market Sentiment and Outlook
This whale activity highlights growing interest in Solana’s meme coin ecosystem but also reflects the volatility and risks associated with these tokens. The community is closely watching to see if these purchases signal a long-term strategy or a short-term speculative play.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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