A crypto whale that’s been dabbling in Solana (SOL)-based memecoins has become the largest holder of a dog-themed altcoin.
First spotted by blockchain tracking firm Lookonchain, a deep-pocketed entity has accumulated $4.29 million worth of PUPS, a cartoony animal-themed meme token.
PUPS was originally created for Bitcoin (BTC) Ordinals but also exists on the Solana blockchain.
Lookonchain says with the whale’s latest purchase worth more than half a million dollars, the entity has become Solana’s biggest holder of PUPS.
“This whale bought 8,862 PUPS ($512,000) at $58 again before the Bitcoin halving.
He has bought a total of 63,024 PUPS ($4.29 million), with an average buying price of $68, becoming the largest holder of PUPS on Solana.”
Lookonchain notes that the same whale also owns President Joe Biden-themed Jeo Boden (BODEN) and dog-themed dogwifhat (WIF).
Earlier this month, the firm witnessed Solana whales scooping up big discounts following a marketwide correction.
Lookonchain spotted one Solana whale that went in to accumulate sloth-themed Slerf (SLERF) and Pepe the Frog-themed Book of Meme (BOME) from crypto exchange Binance. Another deep-pocketed investor loaded up on BODEN using KuCoin.
Around the same time, the firm saw four other whales panic-sold the bottom or close to the bottom of last week’s correction, unloading a total of $12.41 million worth of WIF.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
