Solana

Frenzy

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/meme-coin-frenzy-continues-in-solana-ecosystem/" data-wpel-link="internal">Meme Coin Frenzy Continues in Solana Ecosystem</a><br></p>
<p style="text-align: justify">The meme coin craze persists within the <a href="https://en.coin-turk.com/solanas-remarkable-2023-performance-a-deep-dive-into-its-success/" data-wpel-link="internal">Solana</a> ecosystem, strengthening its position as a profitable environment for ‘smart traders’ and seemingly lucky speculators. A trader following this trend has made a Solana (<a href="https://en.coin-turk.com/solanas-price-predictions-and-market-recovery/" data-wpel-link="internal">SOL</a>) investment worth $35,000 to purchase a meme coin now valued at over $10 million.</p> 
<h2 style="text-align: justify" id="who-bought-how-much-mew">Who Bought How Much MEW</h2> 
<p style="text-align: justify">During this period, a Solana address named ‘5We8d…qP5GY’ acquired 4.41 billion units of a token called “cat in a dogs world” (MEW).</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-333598" src="https://coin-turk.com/wp-content/uploads/2024/03/mew-4-41-coin-turk-com.jpg" alt="" width="773" height="116"></p> 
<p style="text-align: justify">For this purchase, the trader spent 178.2 SOL, valued at $35,000, according to data provided by Lookonchain from X (formerly known as Twitter). The transaction took place on March 26 at 5:23 AM (UTC), and Lookonchain shared the information about two hours later at 7:16 AM (UTC).</p> 
<p style="text-align: justify">At the time of Lookonchain’s post, MEW was priced at $0.002023 on Raydium, a popular decentralized exchange on Solana.</p> 
<h2 style="text-align: justify" id="mew-price-analysis">MEW Price Analysis</h2> 
<p style="text-align: justify">As of the time of writing, the trader’s position on the Solana network appears to have already surpassed the level of $10 billion in unrealized profit following the price movement. MEW is currently trading just above $0.0022 with a market value of $182 million, according to the CoinGecko index.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-333599" src="https://coin-turk.com/wp-content/uploads/2024/03/chart.png" alt="" width="1644" height="1200"></p> 
<p style="text-align: justify">On the other hand, the token’s 24-hour trading volume is around $220 million. This suggests that the trader could face liquidity issues while trying to realize their billion-dollar profit. To clarify, any significant sale could negatively impact the token’s price and harm the trader’s profitability.</p> 
<h2 style="text-align: justify" id="what-s-the-price-of-solana">What’s the Price of Solana?</h2> 
<p style="text-align: justify">Meanwhile, all eyes were on Solana. It was trading at $196 in the early hours of the day but later experienced a noticeable decline, falling to $187.</p> 
<p style="text-align: justify">The price then made a slight recovery. As of the time of writing, SOL is trading at $189. The market volume saw only a 1.75% decrease, still maintaining over $84 billion. However, there was a decline in the 24-hour trading volume, which fell by 16% to $3.5 billion.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/meme-coin-frenzy-continues-in-solana-ecosystem/" data-wpel-link="internal">Meme Coin Frenzy Continues in Solana Ecosystem</a></h5>

Meme Coin Frenzy Continues in Solana Ecosystem

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