Meme coin buying and selling at the Solana community has exploded over the past yr, with the likes of BONK, Dogwifhat, and POPCAT going from underneath $1 million to over $1 billion in marketplace cap. There were different a hit cash as neatly operating into the loads of thousands and thousands in marketplace cap. Then again, one meme coin is status out lately after a Dogwifhat whale finished an enormous $2.4 million acquire that brought about a surge in the associated fee.
Solana Dealer Places $2.4 Million Into MUMU The Bull
MUMU The Bull is every other Solana meme coin that has been slowly making its manner towards the $100 million marketplace cap stage. It after all reached $100 million this week, which is when concern of lacking out (FOMO) turns out to have set in for some buyers.
On Thursday, the on-chain knowledge tracker for the Solana community, SolanaFloor, reported an enormous purchase into this meme coin with majority of its buying and selling quantity on decentralized exchanges (DEXes). The Solana dealer had purchased roughly $2.4 million value of the meme coin in one transaction.
Because of the purchase, the MUMU The Bull meme coin noticed an enormous worth wick that despatched its marketplace cap to $820 million in an issue of seconds. Naturally, the associated fee has since retraced to its common stage, however one fascinating undeniable fact that has captured buyers is what cash have been swapped for MUMU The Bull.
In line with on-chain knowledge, the Solana dealer used to be preserving virtually $3 million value of the Dogwifhat meme coin earlier than the acquisition, earlier than swapping $2.4 million value of WIF for MUMU The Bull. This routinely made the Solana dealer the fourth-largest holder of the meme coin.
Is MUMU The Bull The Subsequent Dogwifhat?
The whale’s $2.4 million purchase into MUMU The Bull has ended in comparisons to Dogwifhat, for the reason that a an identical tournament came about within the early days of WIF. Again in January 2024, when the Dogwifhat worth used to be setting out, there used to be an enormous $8.6 million purchase that noticed the cost of the meme coin virtually triple in seconds.
On the time, the purchase drew grievance from the Solana group, with many believing that the whale had made a nasty funding. Then again, the Dogwifhat marketplace cap rose to the billions, making the Solana dealer tens of thousands and thousands in benefit.
Given the efficiency of Dogwifhat, anticipation for MUMU The Bull filling the wick created by way of the $2.4 million purchase has risen. Neighborhood member @cheatcoiner on X (previously Twitter), echoed this sentiment, pronouncing, “Time to fill the wick now, you’ll’t forestall the bull.”
Featured symbol created with Dall.E, chart from Tradingview.com