Solana Memecoin Whale Drops $6M Bet Against Market Tide—’Degens Gonna Degen’
While retail traders panic-sell, a crypto whale just plowed $6 million into Solana memecoins—doubling down on the sector’s most volatile assets during a blood-red market.
High-risk, high-reward? The move reeks of either insider confidence or a gambler’s death rattle. Remember: ’smart money’ still loses 90% of the time in this casino.
Bonus jab: Wall Street still can’t decide if this is ’innovation’ or proof we need stricter capital controls.
Crypto Whale’s solana Memecoins Transactions (Source: Lookonchain)
Similarly, a $946,000 stake in 381 million mew has grown to $1.21 million. Another significant position of $898,000 in 67.44 billion BONK has also climbed in value to $1.21 million.
However, not all the assets the whale invested in paid off.
Lookonchain noted that the whale recorded slight paper losses on Fartcoin and dog-themed WIF. The Fartcoin allocation of $1.47 million has dropped to $1.37 million, while the $1.49 million placed on WIF now sits at $1.4 million.
These assets’ mixed performance comes amid a broader market pullback that has seen Bitcoin dive towards $102,000 during the reporting period.
Despite the current market lull, the whale’s aggressive buying action illustrates large-scale investors’ ongoing speculative interest in Solana’s memecoin ecosystem.
