The rise of Solana-based memecoins continues, with $POPCAT gaining significant traction, especially among large investors.
Despite broader market downtrends since March, $POPCAT has defied expectations, steadily rising in value since its launch. The increasing decentralization of top holders is a testament to its growing popularity.
Strength of Solana Memecoins accounting for Top Holder Decentralization.
Top Holders = at least 0.01% of supply$GIGA $POPCAT $WIF #RETARDIO pic.twitter.com/tDkuxrwnkA
â Murad (@MustStopMurad) September 11, 2024
On-chain data reveals that whales are aggressively buying into $POPCAT. Recently, one whale swapped around $800,000 worth of $WIF for $POPCAT. Now, he is converting his $SOL holdings into the popular memecoin, with 6,300 SOL, valued at approximately $830,000, remaining in his wallet for further purchases.
A whale just swapped ~$800,000 USD worth of $WIF for $POPCAT in the last 20 minutes. Now, he is swapping $SOL for $POPCAT. He has 6,300 sol (~$830,000) left.
What does he know? pic.twitter.com/i28TUQduTH
â Thickems (@EmperorThickems) September 11, 2024
Notable Whale Spends 1.6 Million USDC To Buy 2.36 Million $POPCATÂ
Another notable whale has been particularly active, with data from Lookonchain showing a massive investment in $POPCAT. Over the past three hours, this whale spent 1.6 million USDC to acquire 2.36 million $POPCAT at a price of $0.68. This comes after a previous $POPCAT purchase between April 21 and April 26, where the whale spent 1.84 million USDC to buy 6.05 million $POPCAT tokens. He later sold these holdings on September 5, netting a profit of $1.47 million USDC.
A whale who made $1.47M on $POPCAT spent 1.6M $USDC to buy 2.36M $POPCAT at $0.68 in the past 3 hours!
This whale spent 1.84M $USDC to buy 6.05M $POPCAT from Apr 21 to Apr 26, and sold it for 3.31M $USDC on Sept 5, making 1.47M $USDC!https://t.co/Or4O9Xx6TQ pic.twitter.com/2d4AhuExwo
â Lookonchain (@lookonchain) September 12, 2024
These large transactions signal that whales are confident in $POPCATâs long-term potential, and their activity is fueling more attention towards the token. As more high-value traders continue to invest, the growing decentralization among top holders suggests that $POPCAT is carving out a strong position in the Solana ecosystem, defying the broader memecoin trend of 2024.
With sustained whale interest and ongoing demand, $POPCATâs future looks promising, even in a challenging market environment.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: peshkov/123RF // Image Effects by Colorcinch
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