Recently, cryptocurrency markets have been following a fluctuating course, affected by the tension between Israel and Iran. Solana-based meme coins attract particular attention. Price declines during this period are seen as buying opportunities for some large whale accounts. But at the same time, panic selling by other whales is also noticeable.
Movements of Solana Whales
Two large Solana whales have begun aggressively collecting Solana-based meme coins such as SLERF, BOME, and BODEN. According to Lookonchain’s data, one of these whales bought BODEN worth $300,000 by withdrawing 32,000 SOL from the Kucoin exchange. The other one withdrew $2.5 million SOL from Binance. He used some of this to purchase BOME for $650 thousand and SLERF for $1.1 million.
However, in addition to these buying whales, some also panicked and sold during the declines. According to Lookonchain’s data, there were major sales in WIF, the largest meme coin of the Solana network. 4 whales, which sold a total of 12.4 million WIFs, attracted attention by selling at low levels during the declines.
Sales at Bottom Levels
In particular, wallets 9WHHoq, BdvbXr, 85Abtu and DpJGh2 were among those that sold WIF tokens on declines. These sell-offs are still ongoing despite the token’s rapid recovery. Although the WIF token rose above $ 3 after the rapid recovery yesterday, it fell to $ 2.7 with the decline this morning.
While the Israel-Iran tension causes fluctuations in the cryptocurrency markets, Solana-based meme coins are also affected by these fluctuations. While the buying and selling moves of big whale accounts increase the activity in the market, investors continue to follow this situation closely.
Investors should stay away from panic selling!
Among the effects of the market crash on all cryptocurrencies, panic sales by small investors are especially noteworthy. Panic selling causes many users to lose money. Sales naturally cause prices to drop. Market fluctuations occur especially after conflicts between countries arising from geopolitical reasons.
According to our news on Kriptokoin.com, the Solana network has encountered some congestion due to the recent meme coin craze. However, the developers have released a new version to solve these problems. This update includes important improvements that will make the network work more efficiently and improve the user experience. Solana’s intense interest from whales provides important clues about the future of the token.
The trust of major investors in Solana contributes to the growth and development of the ecosystem. This strengthens Solana’s position in the cryptocurrency market and attracts the attention of more investors in the future.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.