Solana Trader Puts $2.4 Million Into MUMU The Bull
- WBOYOriginal
- 2024-07-27 15:24:16654browse
MUMU The Bull is another Solana meme coin that has been slowly making its way toward the $100 million market cap level.
Solana (SOL) traders are known for their love of meme coins, and the latest to benefit from this is MUMU The Bull (MUMBULL). This meme coin has seen a massive surge in price, thanks to a $2.4 million purchase by a Solana whale.
According to data from SolanaFloor, the purchase was made on Thursday and saw the trader buy a large portion of the meme coin’s trading volume on decentralized exchanges (DEXes). The purchase, which was quickly noticed by investors, saw MUMBULL’s price wick massively, taking its market cap to $820 million in seconds.
Of course, the price quickly retraced to its normal level, but one interesting detail that caught the attention of investors was the coin that was swapped for MUMBULL.
On-chain data shows that the Solana trader held nearly $3 million worth of the Dogwifhat (WIF) meme coin prior to the purchase, and swapped $2.4 million of WIF for MUMBULL. This made the trader the fourth-largest holder of the meme coin.
The large purchase into MUMBULL has led some to speculate whether the meme coin could be the next Dogwifhat, especially given that a similar event occurred in the early days of WIF.
Back in January 2024, when the Dogwifhat price was surging, there was a massive $8.6 million purchase that saw the price of the meme coin nearly triple in seconds. At the time, the purchase drew criticism from the Solana community, with many believing that the whale had made a poor investment.
However, as we know, the Dogwifhat market cap went on to reach the billions, making the Solana trader tens of millions in profit. Given the performance of Dogwifhat, anticipation for MUMBULL to fill the wick created by the $2.4 million purchase is high.
Community member @cheatcoiner on X (formerly Twitter) highlighted this, saying, “Time to fill the wick now, you can’t stop the bull.”
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