Today, in the crypto world, MEW and SLERF have captured significant attention as whales have purchased substantial amounts of these coins during the broader market’s recovery.
A surprising turn of events has seen Solana meme coins gaining traction across the cryptocurrency sector, attracting large investors amidst the market rebound. On-chain data revealed that whales acquired nearly 500 million MEW and 4 million SLERF from Binance within the last 24 hours. This activity has sparked excitement among traders and investors worldwide, leading to speculations about the future price movements of these tokens.
Whales Shift Focus to MEW and SLERF Amidst Solana Market Dynamics
LookonChain, a blockchain tracker, reveals that amidst the broader crypto market’s recovery, two whales withdrew nearly $3 million worth of Solana in the past 24 hours. These whales redirected their investments towards MEW and SLERF, signaling a shift in market dynamics.
One whale, identified by the address B3aTMg, withdrew 10,438 SOL, valued at $1.54 million, from Binance to purchase 479.6 million MEW at an average price of $0.0032. Another whale, identified as 2zWLX9, withdrew 8,561 SOL, worth $1.27 million, to acquire 4 million SLERF at an average price of $0.317.
During the market rebound, whales bought $MEW and $SLERF.
B3aTMg withdrew 10,438 $SOL($1.54M) from #Binance to buy 479.6M $MEW at an average price of $0.0032.https://t.co/K32EUy5cF8
2zWLX9 withdrew 8,561 $SOL($1.27M) from #Binance to buy 4M $SLERF at an average price of… pic.twitter.com/qeIWdDTyGt
— Lookonchain (@lookonchain) April 15, 2024
These accumulations garnered significant attention across the broader crypto market, especially as Solana meme coins have facilitated substantial gains for traders shortly after their launch. However, both MEW and SLERF experienced recent price corrections, with weekly charts showing a 5% and 6.30% dip in prices, respectively.
Despite recent corrections, MEW and SLERF saw substantial gains aligning with today’s crypto market recovery. The whale accumulations further bolstered bullish sentiment surrounding Solana meme coins, adding to the positive momentum in the market.
MEW and SLERF Tokens See Significant Price Surges
MEW Token Performance: As of the latest update, the MEW (Cat in a Dogs World) token has surged by 80.76% in the past 24 hours, currently trading at $0.004289.
SLERF Token Performance: Similarly, the SLERF token has seen a notable increase, gaining 26.97% in the past 24 hours and reaching a price of $0.3765.
Factors Driving Price Surge: The remarkable rise in prices of Solana meme coins can be attributed to several factors. Firstly, they align with the broader uptrend observed in the crypto market. Additionally, substantial accumulations by whales have contributed significantly to this surge.
Optimistic Market Metrics: The on-chain metrics for these tokens further highlight market optimism, indicating positive sentiment among investors and traders regarding the future prospects of MEW and SLERF.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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