A cryptocurrency whale holding a memecoin based on Solana (SOL) has become the largest holder of the dog-themed altcoin.
First discovered by blockchain tracking firm Lookonchain, the company has amassed $4.29 million worth of PUPS, a cartoonish animal-themed meme token.
PUPS was originally created for Bitcoin (BTC) Ordinal, but also exists on the Solana blockchain.
Lookonchain said the whale’s recent purchases amounted to more than $500,000, making the company the largest holder of Solana’s PUPS.
“This whale bought 8,862 PUPS ($512,000) at $58 again before the Bitcoin halving.
He purchased a total of 63,024 PUPS (worth $4.29 million) at an average purchase price of $68, making him the largest PUPS holder on Solana.”
Look on chain note The same whale also owns President Joe Biden-themed Jeo Boden (BODEN) and dog-themed dogwifhat (WIF).
Earlier this month, the company saw Solana whales take a deep discount following a market-wide correction.
Look on chain spotted A Solana whale entered the cryptocurrency exchange Binance to collect sloth-themed Slerf (SLERF) and frog-themed Book of Memes (BOME) Pepe. Another deep-pocketed investor used KuCoin to fund BODEN.
Around the same time, the company sold a total of $12.41 million worth of WIF as four other whales panic-sold at or near the bottom of last week’s correction.
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