A crypto whale just spent a huge amount of money on memecoin, sending the price of the altcoin soaring.
According to data from crypto analytics firm Lookonchain, the whale invested 4.13 million USDC to buy 6.11 million POPCAT tokens.
The average price this whale spent over the past two days was $0.68 per token.
Since the whale made the transaction, the price of POPCAT has increased significantly. Currently, the POPCAT token is trading at $0.74, and the whale's wallet has recorded a profit of about 8%, equivalent to $330,000.
POPCAT, a Solana-based altcoin, was launched before the Solana memecoin craze. However, the token is currently only listed on Bybit, not on other major centralized exchanges.
POPCAT's price is currently 25% below its all-time high.
