Crypto Market Plummets, Whale Hits Solana Memecoin SLERF, BOME, and BODEN

Bittime - The crypto market, specifically on the Solana (SOL) blockchain, is back in the spotlight. Last weekend's price correction triggered whale activity divided into two camps: aggressive accumulation of discount memecoins and panic selling in times of low prices.

Whale Buy Solana Memecoin

According to on-chain data from blockchain tracking firm Lookonchain, two Solana whales began collecting sloth-themed memecoins such as Slerf (SLERF), Pepe the Frog-themed Book of Meme (BOME), and President Joe Biden-inspired Jeo Boden (BODEN). They take advantage of the correction moment to buy memecoin at a cheaper price.

"Have you figured out what whales buy in Solana after the market goes down? We see whales buying SLERF, BOME, and BODEN!" wrote Lookonchain in their report.

One whale with the address 4eocFb withdrew 31,916 SOL (Rp545,779,160) from Kucoin and spent 2,055 SOL (Rp35,352,550) to buy 500,979 BODEN at $0.59. Another whale with the address 9CjKf5 withdrew 15,751 SOL (Rp271,419,550) from Binance and then spent 7,812 SOL (Rp135,082,200) to buy 4.86 million SLERF at $0.23 and 4,623 SOL (Rp79,829,750) for 67.53 million BOME at $0.0098.

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Whale Panic Sell

Meanwhile, Lookonchain also noted the activity of other whales who actually sell when the price reaches the bottom or is close to the correction bottom. Four different whales sold a total of $12.41 million dogwifhat (WIF), Solana's largest memecoin, in a moment of panic.

"After the market went down, four whales sold 5.68 million WIF (Rp98,414,400)!" said Lookonchain.

Address 9WHHoq sold 3.12 million WIF (Rp54,187,200) for 7.34 million USDC (Rp127,426,000) at $2.35. Address BdvbXr sold 1,016 million WIF (Rp17,718,400) at a value of 1.93 million USDC (Rp33,594,000) at a price of $1.9. Address 85Abtu sold 905,074 WIF (Rp15,690,260) for 1.88 million USDC (Rp32,724,000) at $2.08. Address DpJGh2 sold 641,598 WIF (Rp11,127,960) at a value of 1.26 million USDC (Rp21,882,000) at a price of $1.97.

Conclusion

This diverse behavior of whales shows the complexity of the dynamics of the crypto market in Solana, where the massive accumulation and sale of memecoin can significantly affect price movements. Investors need to pay close attention to market trends, expert predictions, and whale activity to maximize opportunities and minimize risks in crypto investments.

Also Read How to Buy Crypto:

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.

Learn the Complete Guide on How to Buy Crypto on Bittime.

Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Here's a List of Solana Memecoins That Will MoonBag in 2024

What is SLERF (SLERF)? The Latest Meme Coin on Solana That Is Being Hyped!

Whales Storm $SLERF and $BOME: Will This Token Fight the Market Downturn?

$BOME Make This Trader Earn a Lot, Here's the Story!

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.