Crypto Investor Acquiring Solana-Based Memecoins
A wealthy investor is amassing significant quantities of two Solana-based memecoins, according to on-chain data.
Investor Purchases Massive Amounts of Memecoins
- Blockchain-monitoring service Lookonchain reveals that one trader recently bought 181 million cat in a dog’s world (MEW) after acquiring 776,830 dogwifhat (WIF) less than two weeks earlier.
- The trader has spent 6,000 SOL ($1.15 million) to purchase 181 million MEW and 10,000 SOL ($1.91 million) for 776,830 WIF, realizing a profit of $1.27 million. Additionally, they earned 4,893 SOL ($934,000) on SLERF.
Currently, MEW is valued at $0.007718, increasing over 45% in the last day. WIF is trading at $3.96, decreasing by nearly 7% in the previous 24 hours, while SLERF stands at $0.47, dropping nearly 11% over the same period.
Solana’s Booming Memecoin Ecosystem
- The explosive growth of Solana’s memecoin ecosystem is drawing the attention of many in the crypto community, like pseudonymous trader The Flow Horse.
- The Flow Horse speculates that cat in a dog’s world might gain mainstream acceptance on prominent US crypto exchange Coinbase before dogwifhat, the current leading memecoin on Solana.
- Emphasizing MEW’s potential, The Flow Horse advises against underestimating projects with solid fundamentals and substantial market capitalization.
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