Whale Spends $18.57 Million on Solana-Based Memecoins Amid Market Decline

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

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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.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.