According to on-chain data, deep-pocketed investors are accumulating massive amounts of two Solana (SOL)-based memecoins.
Blockchain monitoring service Lookonchain Called One trader bought 181 million cats from Dog World (MEW) after purchasing 776,830 dogwifhat (WIF) in less than two weeks.
“Smart money is buying MEW with new wallets, spending 6,000 SOL ($1.15 million) to purchase 181 million MEW on Monday. The smart money spent 10,000 SOL ($1.91 million) to purchase 776,830 WIF ($3.18 million) on March 20, with an unrealized profit of $1.27 million. He also earned 4,893 SOL ($934,000) from SLERF.”
As of this writing, MEW’s value is $0.007718, up more than 45% over the past day, WIF is trading at $3.96, down nearly 7% over the past 24 hours, and Solana-based meme token Slerf (SLERF) is trading at $0.47. there is. It has increased by almost 11% in the last 24 hours.
Solana’s exploding memecoin ecosystem is being closely tracked by many in the cryptocurrency industry, including pseudonymous trader The Flow Horse.
He believes cats in the dog world could become mainstream on Coinbase, the leading U.S. cryptocurrency exchange before dogwifhat, which is currently the largest memecoin on Solana.
“If this trend continues, MEW will likely receive Coinbase listing before WIF. Joking aside, don’t let projects that come out of nowhere with piles of books and strangely high market caps fade.”
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