A crypto whale spent over $5 million on Solana meme coins recently and is already up $658K

Blockchain analytics account LookOnChain highlighted how one deep-pocketed trader dropped a staggering $5.86 million on Dogwifhat, Fartcoin, Popcat, cat in a dogs world, and Bonk.

A crypto whale has been spotted making a huge bet on Solana meme coins and is already up 11% from their initial investment, according to blockchain analytics firm LookOnChain.

The trader recently dropped a staggering $5.86 million to buy large amounts of five different meme coins:

The huge purchase order was spotted by blockchain analytics firm LookOnChain, who shared details of the trader’s activity.

According to the analysis, the trader is already sitting on a 11% gain from their initial investment.

However, it’s worth noting that all these tokens are already well-established Solana tokens. While they have potential for gains, their upside is limited compared to lower market cap alternatives.

For traders with millions of dollars, the gains provided by prominent meme coins may be enough. But for traders seeking smaller life-changing sums of money, smaller Solana meme coins might be a better option.

With that in mind, here are Top 3 Next Solana Meme Coins to Explode

Solaxy

Solaxy is building the world’s first Solana layer 2 blockchain and its native token is currently available in presale.

The project is preparing for its upcoming exchange listing, which is rapidly approaching. Along with this, the project has just announced that the presale will end in 27 days.

Along with the presale-end announcement, the team also unveiled a new app: Igniter Protocol. This is a token launchpad that will enable $SOLAXY holders to easily create their own cryptocurrencies in seconds. Further details have yet to be released on the app, but it’s already causing massive community excitement.

After the announcement, Solaxy experienced its largest-ever presale day, with over $1 million in inflows.

The project’s layer 2 blockchain aims to address Solana’s congestion issue, which leads to longer wait times and increased rates of transaction failures during periods of peak network activity.

If Solaxy achieves its goal, it will be cheaper, faster, and more reliable than the Solana layer 1 blockchain – and that could provide Solaxy presale investors with massive gains.

Myro

Next up is Myro, which is one of the original top meme coins on Solana. It was first overtaken by Dogwifhat, and then a barrage of other meme coins that came after it.

This project is named after Solana co-founder Raj Gokal’s dog.

With a place in the Solana history books and solid meme coin roots, there is every chance that this project surges in the coming months.

Another thing to consider about Myro is its strong community. It has 75,000 followers on X, which stem from its days as the leader of the Solana meme coin market.

Myro has gained 151% this month, showing investors are returning to the project. If this trend continues, there’s room for approximately a 15x gain to reclaim its current all-time high (ATH).

Housecoin

On the other end of the spectrum, Housecoin is a new meme coin that was recently created and has already been picked up by top industry players. The project follows SPX6900’s playbook and light-heartedly says it aims to “flip” the US housing market.

Since meme coins lack utility, community is one of the most important indicators of potential – which is good news for Housecoin.

One of its high-profile proponents is meme coin influencer Ansem, who has over 700K followers on X and picked up on the project just days after it launched.

However, Housecoin has been noticed by even more credible sources. For instance, Solana Co-Founder Anatoly Yakovenko tweeted about the project last week, providing it a massive credibility boost.

Housecoin chart looks better than dem state housing starts. 🤦‍♂️🤦‍♂️🤦‍♂️

Despite that, Housecoin’s market cap remains at just $43 million. So considering its backing, this could certainly leave massive upside potential.