Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

A crypto whale that's been dabbling in Solana (SOL)-based memecoins has emerged as the largest holder of a dog-themed altcoin.

Originally spotted by blockchain tracking firm Lookonchain, a deep-pocketed entity has amassed $4.29 million worth of PUPS, a cartoony animal-themed meme token.

PUPS, initially created for Bitcoin (BTC) Ordinals, also exists on the Solana blockchain.

Lookonchain reports that the whale's latest purchase, valued at over half a million dollars, has made it Solana's largest PUPS holder.

"This whale bought 8,862 PUPS ($512,000) at $58 again before the Bitcoin halving.

He has purchased a total of 63,024 PUPS ($4.29 million), with an average purchase price of $68, becoming the largest holder of PUPS on Solana."

Source: Lookonchain/X

Lookonchain also notes that the same whale holds President Joe Biden-themed Jeo Boden (BODEN) and dog-themed dogwifhat (WIF).

Earlier this month, the firm observed Solana whales capitalizing on deep discounts following a market-wide correction.

Lookonchain identified one Solana whale accumulating sloth-themed Slerf (SLERF) and Pepe the Frog-themed Book of Meme (BOME) from crypto exchange Binance. Another deep-pocketed investor acquired BODEN through KuCoin.

Around the same time, the firm witnessed four other whales panic-selling substantial amounts of WIF at or near the market's bottom during last week's correction, unloading a total of $12.41 million worth of the token.

Source: https://thebittimes.com/memecoin-collector-becomes-largest-holder-of-solana-based-altcoin-before-bitcoin-halving-lookonchain-tbt85941.html