Whales on the Solana (SOL) blockchain are gobbling up memecoin discounts following a marketwide correction over the weekend, according to on-chain data.
Blockchain tracking firm Lookonchain spotted two Solana whales that went in to accumulate sloth-themed Slerf (SLERF), Pepe the Frog-themed Book of Meme (BOME) and President Joe Biden-inspired Jeo Boden (BODEN) from crypto exchanges Kucoin and Binance.
-->“What did whales buy on Solana after the market dropped?
We noticed whales bought SLERF, BOME and BODEN!
4eocFb withdrew 31,916 SOL ($4.56 million) from Kucoin and spent 2,055 SOL ($294,000) to buy 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 buy 4.86 million SLERF at $0.23 and spent 4,623 SOL( $661,000) to buy 67.53 million BOME at $0.0098.”
While the two whales aggressively accumulated during a correction, Lookonchain says some other whales weren’t as eager.
According to the firm, four different whales panic-sold the bottom or close to the bottom of the correction, unloading a total of $12.41 million worth of dogwifhat (WIF), the biggest memecoin on Solana.
“After the market dropped, four whales sold 5.68 million WIF ($12.41 million) in panic!
9WHHoq sold 3.12 million WIF for 7.34 million USDC at $2.35.
BdvbXr sold 1.016 million WIF for 1.93 million USDC at $1.9.
85Abtu sold 905,074 WIF for 1.88 million USDC at $2.08.
DpJGh2 sold 641,598 WIF for 1.26 million USDC at $1.97.
Address:
9WHHoqrLnhCNbXJewPkS7Wmh5cWEgDh4twSoKCwYHTuH
DpJGh2QcKMXFo3PPFBykYYLdR6XRjh6PvxiwgLZXxtbR
BdvbXrcitJaVL9XwBDezHVZCCsF56ysF8qBpfN54cB7f
85AbtuJxDmwgNxEB3baQ9Lf58nutZwfzNpXor76dDpT7″
Source: Lookonchain/X
