Whales on the Solana (SOL) blockchain are gobbling up memecoin reductions following a marketwide correction over the weekend, based on on-chain information.
Blockchain monitoring agency Lookonchain spotted two Solana whales that went in to build up sloth-themed Slerf (SLERF), Pepe the Frog-themed Ebook of Meme (BOME) and President Joe Biden-inspired Jeo Boden (BODEN) from crypto exchanges Kucoin and Binance.
“What did whales purchase on Solana after the market dropped?
We seen whales purchased SLERF, BOME and BODEN!
4eocFb withdrew 31,916 SOL ($4.56 million) from Kucoin and spent 2,055 SOL ($294,000) to purchase 500,979 BODEN at $0.59.
9CjKf5 withdrew 15,751 SOL ($2.25 million) from Binance, then spent 7,812 SOL ($1.12 million) to purchase 4.86 million SLERF at $0.23 and spent 4,623 SOL( $661,000) to purchase 67.53 million BOME at $0.0098.”
Whereas the 2 whales aggressively gathered throughout a correction, Lookonchain says another whales weren’t as keen.
In response to the agency, 4 completely different whales panic-sold the underside or near the underside of the correction, unloading a complete of $12.41 million value of dogwifhat (WIF), the largest memecoin on Solana.
“After the market dropped, 4 whales offered 5.68 million WIF ($12.41 million) in panic!
9WHHoq offered 3.12 million WIF for 7.34 million USDC at $2.35.
BdvbXr offered 1.016 million WIF for 1.93 million USDC at $1.9.
85Abtu offered 905,074 WIF for 1.88 million USDC at $2.08.
DpJGh2 offered 641,598 WIF for 1.26 million USDC at $1.97.
Deal with:
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DpJGh2QcKMXFo3PPFBykYYLdR6XRjh6PvxiwgLZXxtbR
BdvbXrcitJaVL9XwBDezHVZCCsF56ysF8qBpfN54cB7f
85AbtuJxDmwgNxEB3baQ9Lf58nutZwfzNpXor76dDpT7″
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