Recent analysis by blockchain tracking platform Lookonchain highlighted a significant investment by a crypto whale in several Solana-based meme coins.
Whale's Investment in Meme Coins
A crypto whale invested $5.86 million in five different meme coins on the Solana platform and currently holds $658,000 in unrealized gains. This was reported by Lookonchain.
Variety of Meme Coins and Their Current Value
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.
Trends in the Meme Coin Market
Lookonchain noted that the whale bought 1.48 million WIF tokens for $1.49 million, which are now valued at approximately $1.42 million. The whale also acquired 1.14 million Fartcoin for $1.47 million, with a current valuation of $1.37 million.
Whale investments in meme coins indicate renewed investor interest in this market segment. The analysis highlighted both growing profits and trends in speculative trading.
