Whale rotates capital from WIF to TREMP and BONK, Solana meme coins make comeback

Source Fxstreet
May 19, 2024 08:34
  • A whale sold over $4 million in WIF, realizing a loss, to buy other Solana meme coins. 
  • Large wallet investor buys TREMP and BONK, rotating capital from other Solana based meme coins. 
  • BONK and TREMP have rallied 13.9% and 20.6% in the past 24 hours respectively. 

Crypto intelligence tracker Lookonchain identified a large wallet investor who rotated capital from Solana based meme coin Dogwifhat (WIF) to Doland Tremp (TREMP) and Bonk (BONK). The two meme coins have added double-digit value to their prices in the past 24 hours, as seen on CoinGecko. 

Solana meme coins make a comeback

While most Solana based meme coins are currently hit by a correction, as seen on CoinGecko, TREMP and BONK have posted double-digit gains in the past 24 hours. TREMP has rallied nearly 14% and BONK is up 20.6%. 

Lookonchain noted activity of a large wallet investor who sold 1.7 million WIF worth $4.4 million, while realizing a loss, to buy TREMP and BONK, after a decline in WIF price. The whale’s actions were followed by a spike in the two token’s prices. 

The whale spent 25,682 SOL and bought 1.7 million WIF in March. Following a decline in WIF price, the whale started buying TREMP and BONK, shedding WIF holdings at a loss. The entity has exchange $3.3 million in WIF for 127.16 billion BONK and 966,000 TREMP tokens. 

Two other Solana based meme coins that rallied in the same timeframe are Pajamas Cat (PAJAMAS) and Peng (PENG). 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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