Crypto News

Whales Show Interest in Memecoins As $WIF and $SLERF Experience Significant Gains

Today, two prominent memecoins, $WIF and $SLERF, have demonstrated remarkable price surges, with $WIF gaining 20% and $SLERF up by 10% in the past 24 hours. 

These impressive gains, coupled with a 28% increase in $SLERF over the past 7 days, signal heightened activity among cryptocurrency whales who are actively accumulating memecoins.

According to insights from Lookonchain, whale activity in the memecoin market has been notable. One whale recently invested 24,174 $SOL, equivalent to $3.77 million, to acquire 1.15 million $WIF tokens. Additionally, the same whale withdrew 39,600 $WIF tokens, valued at $131,000, from Binance just 5 hours ago. 

This follows a previous withdrawal of 357,298 $WIF tokens, worth $1 million, from Binance on April 14. Interestingly, all of these $WIF tokens were subsequently deposited into Kamino and Meteora.

Unlucky Whale Always Sells In Loss While Trading Memecoins

In a separate instance, another whale invested 9,453 $SOL, approximately $1.49 million, to purchase 2.99 million $SLERF tokens over the past 2 days. However, this particular whale has a history of trading $SLERF at high prices and selling at lows. 

Despite trading $SLERF seven times in total, five of these transactions resulted in losses, totaling 5,862 $SOL in losses.

The activity of these whales underscores the growing interest in memecoins within the cryptocurrency market. 

While $WIF and $SLERF have experienced significant gains, the involvement of whales in buying and selling these tokens adds an element of volatility to their price movements. 

As investors continue to monitor whale activity and its impact on memecoin prices, the market remains dynamic and ripe with opportunities for those willing to navigate its intricacies.

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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Image Source: moxumbic/123RF // Image Effects by Colorcinch

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