A crypto whale that’s been dabbling in Solana (SOL)-based memecoins has become the largest holder of a dog-themed altcoin.
First spotted by blockchain tracking firm Lookonchain, a deep-pocketed entity has accumulated $4.29 million worth of PUPS, a cartoony animal-themed meme token.
PUPS was originally created for Bitcoin (BTC) Ordinals but also exists on the Solana blockchain.
Lookonchain says with the whale’s latest purchase worth more than half a million dollars, the entity has become Solana’s biggest holder of PUPS.
“This whale bought 8,862 PUPS ($512,000) at $58 again before the Bitcoin halving.
He has bought a total of 63,024 PUPS ($4.29 million), with an average buying price of $68, becoming the largest holder of PUPS on Solana.”
Lookonchain notes that the same whale also owns President Joe Biden-themed Jeo Boden (BODEN) and dog-themed dogwifhat (WIF).
Earlier this month, the firm witnessed Solana whales scooping up big discounts following a marketwide correction.
Lookonchain spotted one Solana whale that went in to accumulate sloth-themed Slerf (SLERF) and Pepe the Frog-themed Book of Meme (BOME) from crypto exchange Binance. Another deep-pocketed investor loaded up on BODEN using KuCoin.
Around the same time, the firm saw four other whales panic-sold the bottom or close to the bottom of last week’s correction, unloading a total of $12.41 million worth of WIF.
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