According to data provided by cryptocurrency analytics firm Lookonchain, a major crypto whale has made a large purchase in a memecoin.
According to the data, this crypto whale spent $4.13 million USDC to purchase a total of 6.11 million POPCAT tokens.
The average purchase level of these altcoins by the whale, which has been buying for the last two days, was $0.68.
Interestingly, the price of POPCAT has seen a significant increase since the whale’s purchases. At the time of writing, the token is trading at $0.74, and the whale wallet has made a profit of approximately 8%, or $330,000, from its last purchase.
POPCAT, a Solana-based altcoin, was launched before the memecoin craze around Solana began, however, the token is not listed on the spot market on any major centralized cryptocurrency exchange other than Bybit.
The altcoin’s price is trading 25% lower than its all-time high at the time of writing.
*This is not investment advice.