Crypto Whale Makes Major Investment in Solana Meme Coins Amid Growing Market Interest
A prominent crypto whale has made significant purchases of Solana-based meme coins, including WIF, POPCAT, FWOG, and MICHI, signaling increased interest in the meme coin sector despite recent market corrections.
Key Highlights:
- The whale wallet acquired 7.25 million WIF ($13.34M) and 5.77 million POPCAT ($3.83M).
- Other acquisitions include 4.57 million FWOG ($922K) and 3.9 million MICHI ($467K).
- Solana meme coins like XP and Victorious surged by 510.7% and 201.6%, respectively.
Crypto Whale’s Strategic Move
According to Lookonchain reports, the whale’s large-scale purchases have fueled speculation of a bullish trend for Solana-based meme coins. Despite a bearish 24-hour market performance, the whale’s decision to buy the dip reflects growing confidence in meme coins as a lucrative sector.
Solana Meme Coins On the Rise
Several Solana meme coins have posted substantial gains, with XP and Victorious leading the rally.
- XP: Up 510.7%, trading at $0.0003543.
- Victorious: Up 201.6%, trading at $0.00008787.
Despite the price drop for tokens like BONK (down 14%) and WIF (down 10.4%), investors are seizing the correction as a buying opportunity, reflecting bullish sentiment toward potential price rebounds.
Meme Coin Sector Trends
Meme coins remain a focal point in the crypto market, with notable whale movements stirring discussions:
- A whale recently deposited 427 billion PEPE tokens (worth $8.5 million) to Kraken after a 11.16% drop in PEPE’s price to $0.00001819.
- Anticipation for mainstream adoption of meme coins continues to grow, particularly surrounding Dogecoin’s potential integration with X payments, as speculations rise due to Elon Musk’s past endorsements.
Future Outlook
Despite recent price corrections, market analysts predict a potential rally for meme coins due to growing community support and viral trends across social media. If the trend persists, January 2025 could see notable shifts in meme coin rankings, further strengthening their market influence.
