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A Solana Whale has reportedly spent 12,400 $SOL worth around $2.7 million to buy $WIF and $BONK in bulk, a striking demonstration of Whale’s influence. This Solana whale’s move has propelled both assets to significant price gains. Lookonchain, an on-chain analytical platform, provided the details of these substantial purchases on its official X account. It showcases Solana Whale’s strategic activity in shaping the market, driving tokens like $WIF and $BONK to impressive daily gains.
A whale spent 12,400 $SOL($2.7M) to buy $WIF and $BONK today.
— Lookonchain (@lookonchain) November 14, 2024
The whale spent 7,200 $SOL($1.57M) to buy 406K $WIF at $3.87 and spent 5,200 $SOL($1.13M) to buy 29.32B $BONK at $0.0000387.$WIF pumped 44% and $BONK pumped 31% today.https://t.co/wYoqiEcflA pic.twitter.com/M4LguOkiA8
Solana Whale’s $WIF Investment Triggers 44% Price Surge
Solana ($SOL) Whale has invested 7200 $SOL (valued at around $1.57 M) to buy 406,000 $WIF tokens, $3.87 per token. This transaction fueled a 44% surge in $WIF’s price which underscores the immediate market reaction to large-scale buys. Such a spike highlights the significant price momentum driven by Solana Whale’s investment which has swiftly influenced token performance. This significant price momentum has driven the attention of retail investors to a broader community.
Solana network, known for its fast transaction speed and low cost, has not led the Whale-driven price movements for the first time. So, with $WIF’s recent surge, many investors are now observing if the momentum continues or if is it a temporary uptick, which includes only Whale’s interest.
$BONK Gains 31% After Solana Whale Buys $1.13M
Solana Whale allocated another 5,200 $SOL ($1.13M) to buy 29.32 billion $BONK tokens. This purchase of Whale caused $BONK to surge by 31%. It is further an illustration of the impact of large transactions on tokens having a smaller market cap. $BONK is a meme coin in the Solana ecosystem which has previously seen similar price fluctuations. Further, it is often tied to larger investor’s sudden trading volume spikes.
This significant investment shows Solana’s growing interest in the meme coins. In this ecosystem, a Whale’s purchases can create a ripple effect on all other meme coins. These recent price increases of $WIF and $BONK witness that a strategic move can set off notable trends and volatility in a short period. This further underscores the influence of Solana Whale in the crypto market.