Memecoins are as soon as making waves within the crypto market. Within the final 24 hours, 4 of the ten best-performing cryptocurrencies within the high 100 are meme cash. The largest gainers embody BONK (+10.2%), PEPE (+4.8%), WIF (+4.7%) and FLOKI (+4.1%). With meme cash slowly regaining, crypto merchants are seemingly specializing in lesser-known cash.
High Crypto Dealer Focuses On These 2 Memecoins
In line with knowledge from on-chain evaluation service Lookonchain, the famend crypto dealer often known as “paulo.sol” has been making vital strikes into new memecoin territories. Paulo.sol, who has beforehand amassed substantial income from meme cash like BONK, WIF, and BODEN, is now shifting his focus to buying vital stakes in PUPS and POPCAT.
What a legend!😱
paulo.sol has realized income of $9.51M on $WIF, $7.04M on $boden and $6.28M on $BONK.
1/ Let’s dig into his trades to see what he is shopping for.👇 pic.twitter.com/2axUwHb3el
— Lookonchain (@lookonchain) April 26, 2024
Lookonchain’s latest posts on X (previously Twitter) present a deep dive into paulo.sol’s previous and current funding patterns. “What a legend! Paulo.sol has realized income of $9.51M on WIF, $7.04M on BODEN, and $6.28M on BONK,” Lookonchain tweeted. In complete, the crypto dealer has made $22 million in realized income.
The posts additional reveal that paulo.sol purchased into BONK early in November 2023, capturing substantial good points as its worth surged. “As early as Nov 11, 2023, paulo.sol observed the rising of BONK and purchased BONK. He made ~$6.28M by shopping for BONK at low costs and promoting at excessive,” the information supplier said.
The crypto dealer continued his technique by investing in WIF and BODEN in December 2023 and March 2024, respectively, following their sharp worth will increase. Notably, “paulo.sol didn’t purchase WIF and BODEN once they first went on-line, however paid consideration to and purchased closely once they first rose sharply,” Lookonchain observes.
As of now, paulo.sol continues to carry 12.87 million BODEN tokens valued at roughly $7.6 million and 1.87 million WIF tokens value round $5.7 million. Nonetheless, his most up-to-date actions present a pivot in the direction of new meme cash, PUPS and POPCAT, sparking curiosity amongst traders and analysts alike.
Lookonchain famous, “We observed that paulo.sol is shopping for PUPS and POPCAT just lately. He spent $1.77M to purchase 4.3M POPCAT at $0.42 as we speak. And he has spent $5.97M to purchase 101,712 PUPS at $59 since Apr 11, turning into the most important holder of PUPS on Solana.”
The impression of paulo.sol’s funding has been palpable available in the market dynamics of the newly favored meme cash. Regardless of a basic downturn within the memecoin sector, POPCAT’s worth surged by 52% as we speak, buying and selling at roughly $0.51 with a buying and selling quantity improve of 51% to $166 million. Over the previous 9 days, POPCAT has risen a whopping 410%.
Alternatively, PUPS is seeing a worth drop of 4.2% as we speak, buying and selling at $36.96, with a 27% fall in buying and selling quantity to $2.82 million. Since reaching an all-time excessive above $152 on April 14 (on Coinex), the PUPS worth is down greater than 78%.
Featured picture from Binance Academy, chart from TradingView.com
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