Whales on Solana Blockchain Snapping Up Memecoins Amid Market Downturn🐋
Large investors on the Solana blockchain, colloquially known as whales, have been purchasing memecoins amidst a recent cryptocurrency market downturn that has caused the prices of these assets to plummet.
Whales Active in Accumulating Memecoins🐋
Here are some key points about the recent activities of whales on the Solana blockchain:
- Whales began accumulating memecoins as prices started dropping
- Two major whales focused on memecoins like Slerf, BOME, and Boden
- Tokens purchased from exchanges like KuCoin and Binance
- Significant transactions made by whales for memecoins
- One whale transferred 31,916 SOL worth over 44.5 million from KuCoin for nearly $300,000 on Boden
- Another whale spent $2.25 million off of Biden’s exchange on SLERF and BOME
- Caution observed among other whales
- Four whales engaged in “panic selling” during the market correction, selling a combined total of $12.41 million worth of Dogwifhat (WIF)
- Iran’s large-scale attack on Israel with drones and cruise missiles
- Investors moving to safe-haven assets due to fears of a broader conflict
- Solana’s price dropping by over 27% in a week, trading around $130
- Network congestion due to a surge in memecoin traders and bots affecting the network
- A cryptocurrency analyst predicting a price increase for Solana despite the recent price drop
Market Correction Amid Geopolitical Tensions📉
During the recent cryptocurrency market correction, attributing factors include:
Solana Facing Price Plunge and Network Congestion💰
Recent updates on Solana’s situation include:
Hot Take: Readjusting Strategies in the Crypto Market🔥
As a crypto reader, it is essential to adapt to current market trends and fluctuations. Observing whale activities, market corrections, and network issues can provide insights into making informed decisions.
Ethan Glober emerges as a visionary weaving the roles of crypto analyst, relentless researcher, and editorial artisan into a captivating narrative of insight. Within the dynamic realm of digital assets, Ethan’s insights resonate like an intricate melody, resonating with curious minds from all walks of life. His ability to untangle the most complex threads of crypto intricacies seamlessly melds with his editorial finesse, transforming intricacy into a harmonious composition of understanding.