Whales Accumulate Solana $SOL and $PEPE : What’s Behind It?
On-chain data shows whales actively accumulating Solana (SOL), a key asset in DeFi and staking. SOL, recently stabilizing at $236.39, is gaining traction thanks to Grayscale’s ETF plans and its role in liquid staking. The Solana ecosystem has also improved transaction reliability, with successful transfers now reaching 63%, compared to past failure rates of 70%.
Meme tokens remain popular on Solana, supported by Pump.fun and Coinbase’s listing of Moodeng (MOODENG). Whale activity has surged, with 185,510 SOL ($42.46M) withdrawn from Binance into self-custodial wallets over the past day. These wallets are diversifying strategies, trading meme tokens, and engaging in liquid staking on platforms like Jupiter. SOL’s flexible use cases for staking, lending, and liquidity provision continue to attract smart money, with the network drawing $9.2B in value during the 2024 recovery.
Pepe and the Meme Cycle
Whales are also eyeing Pepe (PEPE), a meme token stabilizing near $0.000020 after its Coinbase listing. PEPE remains a leading candidate to drive the meme token supercycle, fueling liquidity and boosting ETH and SOL demand.
Major exchanges like WhiteBIT, Coinbase, and Bitget are expanding access to assets like SOL and PEPE, reinforcing their ecosystem presence and attracting traders looking to capitalize on the growing meme token trend.
