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 a 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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