2-Week Memecoin in Solana Gained Rapid Valuation and Gained 6 Million Dollars for Whale

A memecoin launched in the Solana ecosystem two weeks ago has gained several times its value in a short time.

Solana-based memecoin BEER began trading on the decentralized cryptocurrency exchange Radium on May 23.

Whale made millions

According to a post by blockchain analysis platform Lookonchain, a whale spent 31,052 Solana ($5.2 million) to buy a total of 29.25 billion BEER on May 25.

The whale's cost per unit for BEER tokens was $0.0001784. BEER has quadrupled in value in less than two weeks, according to CoinMarketCap data.

According to the Lookonchain post, the whale has already made a profit of around $6 million.

“liquid gold”

BEER, which has a total supply of 888,888,888,888, held a pre-sale on May 16. 33% of the total supply was allocated for this.

BEER states on its website, “BEER is not an ordinary coin – it is literally liquid gold. It works as a universal currency of pleasure and brings people together regardless of skin color or social status.”

BEER, which has a market value of $343.1 million, according to Solscan data, plans to be listed on major global stock exchanges and establish new partnerships. According to Solscan data, BEER is held in 34,858 wallets.

According to analysts, memecoins such as BEER increase the mobility in the Solana network and thus increase the price.