Whales Scoop Up Discounted Solana Meme Coins BODEN, SLERF, And BOME After Flash Crypto Crash

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Updated: 17 April 2024

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Crypto whales have swooped in to buy up Solana meme coins beaten down in price by the crypto flash crash at the weekend, says blockchain tracking firm Lookonchain.

Two Solana (SOL) whales acquired sloth-themed Slerf (SLERF), Book of Meme (BOME), and Jeo Boden (BODEN) from leading crypto exchanges Binance and KuCoin, Lookonchain said in a post on X.

Whales Make Major Adjustments To Their Solana Meme Coin Holdings

The whale address starting with “4eocFb” withdrew 31,916 SOL tokens worth around $2.56 million from KuCoin, Lookonchain said. Shortly thereafter, the whale spent 2,055 SOL to purchase over 500k BODEN tokens at a trading price of $0.59.

Meanwhile, the whale address starting with “9CjKf5“ pulled $2.25 million worth of SOL from Binance, Lookonchain added. With this amount in hand, the whale then bought 4.68 million SLERF at $0.23 worth around $1.12 million, and also spent approximately $661k to buy 67.53 million BOME while it was trading at $0.0098.

After the market dropped, 4 whales sold 5.68M $WIF($12.41M) in panic!

9WHHoq sold 3.12M $WIF for 7.34M $USDC at $2.35.
BdvbXr sold 1.016M $WIF for 1.93M $USDC at $1.9.
85Abtu sold 905,074 $WIF for1.88M $USDC at $2.08.
DpJGh2 sold 641,598 $WIF for 1.26M $USDC at $1.97.

Address:… pic.twitter.com/p3ElbtiH50

— Lookonchain (@lookonchain) April 14, 2024

There were also a number of whales that panicked and sold their holdings in SOL-based meme coins, the firm revealed in an earlier X post. Collectively, 4 large holders dumped more than $12 million worth of Dogwifhat (WIF) after they flooded the market with 5.68 million tokens.

Investors Slowly Return To The SOL Ecosystem

The recent WIF selloff is evident in the meme coin’s 25% plunge in the past week. WIF dropped more than 2% in the past 24 hours to trade at $2.16 as of 4:20 a.m. EST.

Despite WIF’s ongoing troubles, the overall market cap of the Solana ecosystem recorded a slight uptick throughout the past day of trading as investors slowly resumed buying SOL altcoins.

This has buoyed some leading SOL cryptos today, including dragon-themed Smog (SMOG), which is up 4.6%. New presale Slothana (SLOTH), which is gearing up for its official launch on exchanges, put a 14-day countdown timer on its website on Apr. 15 after raising $10 million in less than two weeks.