Current data shows that a deep-pocketed investor has accumulated large amounts of two Solana (SOL)-based meme coins.
Blockchain monitoring service Lookonchain to the report According to reports, an investor purchased a significant amount of Solana-based meme coins dogwifhat (WIF) and cat in a dog’s world (MEW) in the last two weeks. It is stated that this investor first purchased 776,830 WIF and then purchased 181 million MEW.
If we look at the data in more detail, this investor purchased 181 million MEW on Monday, spending approximately SOL 6,000 (approximately $1.15 million).
It appears that the investor has made a purchase of a similar size before. On March 20, it was observed that he made another investment of $3.18 million by purchasing 776,830 WIFs by spending SOL 10,000 (approximately $1.91 million). This move resulted in a profit of $1.27 million after a certain period of time. It was also recorded that he earned SOL 4,893 (approximately $934,000) from SLERF.
These large-scale purchases may reflect that investor’s strong interest and belief in certain Solana-based meme coins. At the time of writing, MEW is trading at $0.008742, up over 40%. WIF is at $4.05, up 6%.
Solana’s dynamic meme coin ecosystem is attracting the attention of many in the crypto world. One of the analysts who closely follows the developments in this ecosystem is The Flow Horse. In particular, he attracted attention with his comments that the meme coin called cat in a dog’s world, as an alternative to dogwifhat, the largest meme coin on Solana, could become mainstream on Coinbase, the leading US crypto exchange.
The Flow Horse’s reviews shed light on the fact that meme coin projects in the Solana ecosystem can gain popularity in unexpected ways. On the other hand, the rapid rise of such projects and their entry into mainstream stock exchanges attracts the attention of crypto investors and enables these projects to reach wider audiences.
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