Crypto News – Because they attracted large whale buyers during the general cryptocurrency market’s upswing, Solana meme coins seem to be making ripples in the industry.
SLERF and MEW Crypto Led the Rise of Solana Meme Coins Due to Whale Movements
On-chain insights that were circulating over the cryptocurrency horizon showed that whales from Binance had amassed around 500 million MEW and 4 million SLERF over the previous day. This sparked speculation about the future price movement of the tokens and mirrored a frenzy among traders and investors in the cryptocurrency market throughout the world. In light of the general recovery in the cryptocurrency market, LookonChain, a blockchain analytics platform, has disclosed that in the last day, two whales have taken out around $3 million worth of Solana to purchase MEW and SLERF.
MEW Crypto Price Rises 64%
Notably, 479.6 million MEW were purchased at an average price of $0.0032 by the whale with the address B3aTMg, who withdrew 10,438 SOL, or $1.54 million, from Binance. In contrast, the whale 2zWLX9 purchased 4 million SLERF at an average price of $0.317 by withdrawing 8,561 SOL, or $1.27 million, from Binance.
The price of Solana meme coins has increased due to two main factors: the overall uptrend in the crypto market and large whale accumulations. Token on-chain data, however, highlights even more market optimism for these tokens. The MEW (Cat in a Dogs World) token is now trading at $0.005208, having gained 64.85% in the last 24 hours. SLERF coin is now trading at $0.3748 after rising 26.97% during the previous day.
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