A crypto whale invested $5.86 million in five different Solana-based meme coins and currently holds $658,000 in unrealized gains from the move. Blockchain tracking platform Lookonchain called attention to this whale’s movement in a tweet.
The whale’s strategy involved splitting the capital across WIF, Fartcoin, POPCAT, MEW, and BONK. All these tokens are native to the Solana blockchain and represent the growing trend of speculative trading in meme-themed cryptocurrencies.
Lookonchain noted that the whale bought 1.48 million WIF tokens for $1.49 million, which are now valued at approximately $1.42 million. He also acquired 1.14 million Fartcoin for $1.47 million, with a current valuation of $1.37 million.
For POPCAT, the whale purchased 2.92 million tokens for $1.05 million, now worth $1.26 million. He also bought 381 million MEW for $946,000, which has since increased to $1.21 million. Lastly, the whale invested $898,000 to acquire 67.44 billion BONK tokens, which are now valued at around $1.29 million.
Among the tokens, BONK has delivered the largest unrealized profit, rising by $392,000 since purchase. In total, the wallet now holds approximately $6.52 million, generating a gain of $658,000 at current market prices.
Time to Consider Meme Coin Strategy?
Aside from this whale, other recent whale activities suggest a mixed sentiment in the crypto market. Lookonchain reports a major whale accumulating PEPE, withdrawing over 2.21 trillion tokens (worth $29.28 million) from Binance in just two days.
Additionally, another whale reactivated after two years of dormancy and withdrew 1.79 trillion PEPE ($22.23 million), hinting at renewed confidence in the token.
Similarly, a new whale spent $1.7 million in USDC to acquire over 786,000 GRASS, another emerging meme coin. This shows that meme coins still capture attention despite broader market volatility.
However, caution is warranted. Other whales are offloading large holdings of tokens like LDO and BLUR. This triggered price drops of 25% and 20%, respectively, within a week.
Meme Coin Market Sees Price Uptick
Notably, several tokens posted double-digit gains over the past week. Leading the charge is Floki, which rose 23.08% in 7 days, followed by Shiba Inu and Brett, which rose 18.90% and 21.81% respectively.
More established names like Dogecoin and Pepe also showed solid performance, gaining 12.59% and 14.07% respectively. Notably, Fartcoin and Pudgy Penguins hold momentum with 13.44% and 16.24% weekly increases.
With this broad-based rally and whale accumulation patterns reported by Lookonchain, the meme coin sector appears to be regaining investor interest. This suggests that this could be a strategic window for high-risk, high-reward exposure.
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