Anonymous Millionaire Goes on a $5 Million Memecoin Buying Spree

An anonymous millionaire has been on a shopping spree for Solana-based memecoins, investing over $5 million since October 21.

The whale address received 32,695 SOL from Binance and has made multiple purchases across various tokens, showing a mix of gains and losses.

The largest chunk of the investment went to the GOAT token, allegedly generated by AI, with an allocation of $3.39 million—18,000 SOL bought 6.95 million GOAT at $0.43 each. Other acquisitions included GIGA, FWOG, HAMMY, WIT, JACK, and WTRIX, although these received smaller investments.

By the time of the report, the wallet had amassed 31.71 million GIGA, worth $2 million, bought at $0.062. Additionally, 2,900 SOL was spent on 1.98 million FWOG, totaling $484,000.

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Commentators were skeptical about the investment strategy, with some criticizing the decisions as poor and predicting losses in the near future. The renewed interest in memecoins highlights the speculative nature of this market, where traders often act out of  FOMO.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.