Despite criticisms, memecoins based on Solana are proving to be lucrative investments, offering substantial gains to investors. These altcoins have caught the attention of large-scale investors and have been yielding profits consistently. On-chain data provides insights into the transactions made by whales, particularly following the success of Book Of Meme (BOME) and Cat in a Dogs World (MEW).

Whales Accumulate Shares of Orcat

Data from Lookonchain reveals that the biggest participant in the BOME presale has become a major investor in Orcat. Using 73 SOL, equivalent to $15,000, the smart money wallet address sundayfunday.sol purchased 94.55 million Orcat, taking control of 9.46% of the total supply and establishing dominance in the altcoin market. This investor also contributed significantly to liquidity provision for Orcat on Raydium.

BOME Continues to Show Strength

As of the latest data, BOME's price has increased by 6% in the past 24 hours and over 10% in the last week, indicating strong performance. With a current trading price of $0.01516, BOME stands out with high trading volume on Solana-based decentralized exchanges like Jupiter and Raydium, pointing to increased investor interest. It is recommended that investors conduct thorough research and consider the speculative nature of these investments before jumping in due to their high volatility and the lack of listing on major cryptocurrency exchanges.