A crypto whale has placed nearly $6 million across five Solana-based memecoins, taking a bold position despite the broader market pullback.

According to on-chain data from Lookonchain, the investments were made on May 19 and have already produced roughly $685,00 in unrealized gains.

A crypto whale has put nearly $6 million across five Solana-based memecoins, taking a bold position despite the broader market pullback.

According to on-chain data from Lookonchain, the investments were made on May 19 and have already produced roughly $685,000 in unrealized gains.

Lookonchain reported that the trader allocated $1.05 million to acquire 2.92 million POPCAT tokens, which have since appreciated to $1.26 million.

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.

Oluwapelumi Adejumo

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

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Bitcoin ETFs rebound with $319 million inflow on May 14 after sharp outflow dayoutput: A crypto whale has placed nearly $6 million across five Solana-based memecoins, data from blockchain analytics platform, Lookonchain, reveals.

The investments, which were made on May 19, have already produced roughly $685,000 in unrealized gains for the whale.

The analysis shows that the trader put $1.05 million to buy 2.92 million POPCAT tokens, which have risen to $1.26 million.

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 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 decline towards the $102,000 mark.

Despite the current market lull, the whale’s aggressive buying action highlights the ongoing speculative interest of large-scale investors in Solana’s memecoin ecosystem.