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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- Withdrawn 7.24 million WIF tokens ($13.32 million) from Binance.
- Withdrawn 1.87 million POPCAT tokens ($1.24 million) from Bybit.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.
Authors credited by the source: Vishal Dixit
Published by Holder based on an external source.
