Whale Spends $25 Million on Meme Coins Amid Market Crash
Bitcoin is currently fluctuating above $95,000 while the altcoin market remains valued over $115 billion. Despite a significant drop of more than 10% for several top meme coins, a notable whale has been actively purchasing.
Whale Activity in Meme Coins
- The whale, using addresses DWhU and D2Noa, has acquired multiple tokens.
- Withdrawn 7.24 million WIF tokens ($13.32 million) from Binance.
- Withdrawn 1.87 million POPCAT tokens ($1.24 million) from Bybit.
- Spent $6.1 million in USDC on various meme coins.
- Acquired 5.79 million POPCAT at an average price of $0.80 for $4.65 million.
- Purchased 4.57 million FWOG for $979K at an average of $0.21.
- Acquired 3.9 million MICHI for $469K at an average of $0.12.
Meme Coin Performance
- The WIF token dropped by 9.85% in the last 24 hours to $1.86.
- Shows a weekly pullback of 11.79%, with support at $1.39 and resistance at $3.6442.
- Popcat fell by 16.54% to $0.66, with a market cap of $665 million.
- Testing a support trendline and facing a short-term resistance level.
- RSI indicates a potential bullish reversal if it surpasses local resistance, targeting $1, $1.52, and $2.10.
Market Outlook
The whale's investment exceeding $25 million across various tokens suggests confidence amid current market volatility. While both WIF and POPCAT experience declines, technical indicators hint at possible recovery, though risks remain elevated.