Rally

Solana

SLERF

Millions

Million

In a thrilling plot twist, Solana meme coins appear to be making waves across the cryptocurrency sector as they magnetized massive whales into buying amidst the broader crypto market’s rebound. On-chain insights floating over the crypto horizon illustrated nearly 500 million MEW and 4 million SLERF accumulated by whales from <a href="https://coingape.com/blog/binance-exchange-review/" target="_blank" rel="noopener">Binance</a> in the past 24 hours. This echoed a frenzy among crypto market traders and investors globally, birthing speculations surrounding the tokens’ future price action. 
<h2 id="whales-buying-mew-slerf-amid-market-rebound">Whales Buying MEW &amp; SLERF Amid Market Rebound</h2> 
According to the insights revealed by LookonChain, a blockchain analytics platform, as the broader crypto market shows signs of recovery, two whales collectively withdrew nearly $3 million worth of Solana to buy MEW and SLERF in the past 24 hours. 
Notably, the whale going by the address B3aTMg withdrew 10,438 SOL, worth $1.54 million, from Binance to buy 479.6 million MEW at an average price of $0.0032. Whereas the whale 2zWLX9 withdrew 8,561 SOL, worth $1.27 million, from Binance to buy 4 million SLERF at an average price of $0.317. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 During the market rebound, whales bought <a href="https://twitter.com/search?q=%24MEW&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MEW</a> and <a href="https://twitter.com/search?q=%24SLERF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SLERF</a>. 
 B3aTMg withdrew 10,438 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($1.54M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> to buy 479.6M <a href="https://twitter.com/search?q=%24MEW&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MEW</a> at an average price of $0.0032.<a href="https://t.co/K32EUy5cF8">https://t.co/K32EUy5cF8</a> 
 2zWLX9 withdrew 8,561 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($1.27M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> to buy 4M <a href="https://twitter.com/search?q=%24SLERF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SLERF</a> at an average price of… <a href="https://t.co/qeIWdDTyGt">pic.twitter.com/qeIWdDTyGt</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1779699930971664746?ref_src=twsrc%5Etfw">April 15, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
It’s worth noting that these accumulations gained significant traction across the broader crypto market as the abovementioned <a href="https://coingape.com/solana-meme-coin-mew-rallies-140-here-everything/" target="_blank" rel="noopener">Solana meme coins</a> aided traders in making millions promptly after their launch, noting massive gains. However, MEW &amp; SLERF also witnessed price corrections recently, as weekly charts showcase a 5% and 6.30% dip in prices, respectively. 
Nonetheless, aligning with today’s crypto market recovery, as the majority of the cryptos noted a pump, MEW and SLERF also noted substantial gains. The abovementioned whale accumulations further splashed a bullish tint on the Solana meme coins. 
Also Read: <a href="https://coingape.com/ethereum-price-up-7-as-whale-scoops-50-million-worth-of-eth-from-binance/" target="_blank" rel="noopener">Ethereum Price Up 7% As Whale Scoops $50 Million Worth of ETH from Binance</a> 
<h2 id="mew-slerf-prices-rally">MEW &amp; SLERF Prices Rally</h2> 
As of writing, the MEW (Cat in a Dogs World) token has gained 80.76% in the past 24 hours and is currently trading at $0.004289. Meanwhile, the SLERF token has gained 26.97% in the past 24 hours and is currently resting at $0.3765. 
The surge in <a href="https://coingape.com/price/solana/" target="_blank" rel="noopener">Solana</a> meme coins’ prices primarily aligns with a couple of factors, encompassing the broader crypto market’s uptrend and the substantial whale accumulations. However, the token’s on-chain metrics further underscore market optimism for these tokens. 
<a href="https://www.coinglass.com/" target="_blank" rel="noopener">MEW’s</a> open interest surged 84.33%, while derivatives volume rocketed 152.25%. SLERF’s open interest rallied 49.42%, accompanied by a derivatives volume upswing of 165.08%. This collectively underlined heightened investor interest in these assets, further cementing the meme coins’ market uptrend. 
Also Read: <a href="https://coingape.com/market-retreat-sees-440m-decrease-in-solana-oi-prices-rally-11/" target="_blank" rel="noopener">Market Retreat Sees $440M Decrease in Solana OI, Prices Rally 11%</a> 
The post <a href="https://coingape.com/solana-meme-coins-whales-buying-millions-of-mew-slerf/">Solana Meme Coins: Whales Buying Millions of MEW &amp; SLERF</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Solana Meme Coins: Whales Buying Millions of MEW & SLERF

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