A deep-pocketed investor is accumulating massive amounts of two Solana (SOL)-based memecoins, on-chain data shows.
Blockchain-monitoring service Lookonchain says that one trader just bought 181 million cat in dog’s world (MEW) after buying 776,830 dogwifhat (WIF) less than two weeks earlier.
“A smart money is buying MEW with a new wallet, and has spent 6,000 SOL ($1.15 million) to buy 181 million MEW [on Monday]. This smart money spent 10,000 SOL ($1.91 million) to buy 776,830 WIF ($3.18 million) on March 20th, with an unrealized profit of $1.27 million. He also made 4,893 SOL ($934,000) on SLERF.”
At time of writing, MEW is worth $0.007718, up over 45% in the past day, WIF is trading for $3.96, down nearly 7% in the last 24 hours and Solana-based meme token Slerf (SLERF) is trading for $0.47, down nearly 11% in the last 24 hours.
Solana’s explosive memecoin ecosystem is being closely tracked by many in the crypto space including pseudonymous trader The Flow Horse.
He believes cat in a dog’s world could go mainstream on top US crypto exchange Coinbase before dogwifhat, which is currently the biggest memecoin on Solana.
“At this rate, MEW looks like it will get a Coinbase listing before WIF. All joking aside, don’t fade the project that comes out of nowhere with a stacked book and an oddly high market cap.”
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