The meme coin trend within the Solana ecosystem remains strong, attracting traders and speculators looking to make profits. Recently, a trader invested $35,000 in Solana to purchase a meme coin that has now soared in value to over $10 million.

Notable Purchase of MEW

In a recent transaction, a Solana address known as ‘5We8d…qP5GY’ acquired 4.41 billion units of the token "cat in a dogs world" (MEW).

The trader spent 178.2 SOL, equivalent to $35,000, on this purchase. Lookonchain, a data provider, reported the transaction occurring on March 26 at 5:23 AM (UTC), which was then shared at 7:16 AM (UTC).

According to Lookonchain, MEW was priced at $0.002023 on Raydium at the time of the post.

MEW Price Overview

The trader's position on the Solana network has surged above $10 billion in unrealized profit following significant price movements. Currently, MEW is trading slightly above $0.0022 with a market capitalization of $182 million, as per the CoinGecko index.

The token's 24-hour trading volume is approximately $220 million, indicating potential liquidity challenges for the trader when attempting to realize such significant profits.

Solana Price Update

Solana's price started at $196 but dropped to $187 before recovering slightly to $189. The market volume remains over $84 billion with a 1.75% decrease, while the 24-hour trading volume fell by 16% to $3.5 billion.

This information was first shared on COINTURK NEWS: Meme Coin Frenzy Continues in Solana Ecosystem