Whale Spends $18.57 Million on Solana-Based Memecoins Amid Market Decline
We may earn commissions from affiliate links or include sponsored content, clearly labeled as such. These partnerships do not influence our editorial independence or the accuracy of our reporting. By continuing to use the site you agree to our terms and conditions and privacy policy.
Despite recent declines in Bitcoin (BTC) and altcoins, some investors have responded by panic selling, while others view the downturn as a buying opportunity.
A notable event today involved a large purchase by an anonymous whale, who made significant investments in four Solana-based memecoins.
According to Spot on Chain, the whale, identified as “DWhUa,” spent $18.57 million on the memecoins WIF, POPCAT, FWOG, and MICHI. The purchase was made across both Binance and decentralized exchanges (DEX). The breakdown of the transaction includes:
- 7,249 WIF, valued at $13.3 million
- 5.77 million POPCAT, worth $3.82 million
- 4.57 million FWOG, valued at $980K
- 3.9 million MICHI, worth $470K
Read More:
Although these memecoins were also affected by the broader market decline, with WIF dropping by 10.6%, POPCAT falling by 16.4%, FWOG decreasing by 8.9%, and MICHI down by 7.7%, the whale’s purchase highlights a belief in the potential of these coins despite the short-term downturn.
Commentaries 
Fill in necessary fields and publish