Meme
coin
trading
on
the
Solana
network
has
exploded
over
the
last
year,
with
the
likes
of

BONK,
Dogwifhat,
and
POPCAT
going
from
below
$1
million
to
over
$1
billion
in
market
cap.
There
have
been
other
successful
coins
as
well
running
into
the
hundreds
of
millions
in
market
cap.
However,
one
meme
coin
is
standing
out
currently
after
a

Dogwifhat
whale
completed
a
massive
$2.4
million
purchase
that
triggered
a
surge
in
the
price.

Solana
Trader
Puts
$2.4
Million
Into
MUMU
The
Bull

MUMU
The
Bull
is
another
Solana
meme
coin
that
has
been
slowly
making
its
way
toward
the
$100
million
market
cap
level.
It
finally
reached
$100
million
this
week,
which
is
when
fear
of
missing
out
(FOMO)
seems
to
have
set
in
for
some
investors.

 

On
Thursday,
the
on-chain
data
tracker
for
the
Solana
network,
SolanaFloor,

reported
a
massive
buy
into
this
meme
coin
with
majority
of
its
trading
volume
on
decentralized
exchanges
(DEXes).
The
Solana
trader
had

bought
approximately
$2.4
million
worth
of
the
meme
coin
in
a
single
transaction.

As
a
result
of
the
buy,
the
MUMU
The
Bull
meme
coin
saw
a
massive
price
wick
that
sent
its
market
cap
to
$820
million
in
a
matter
of
seconds.
Naturally,
the
price
has
since
retraced
to
its
regular
level,
but
one
interesting
fact
that
has
captured
investors
is
what
coins
were
swapped
for
MUMU
The
Bull.

According
to
on-chain
data,
the
Solana
trader
was
holding
almost
$3
million
worth
of

the
Dogwifhat
meme
coin
before
the
purchase,
before
swapping
$2.4
million
worth
of
WIF
for
MUMU
The
Bull.
This
automatically
made
the
Solana
trader
the
fourth-largest
holder
of
the
meme
coin.

Is
MUMU
The
Bull
The
Next
Dogwifhat?

The
whale’s
$2.4
million
buy
into
MUMU
The
Bull
has
led
to

comparisons
to
Dogwifhat,
given
that
a
similar
event
happened
in
the
early
days
of
WIF.
Back
in
January
2024,
when
the
Dogwifhat
price
was
taking
off,
there
was
a
massive
$8.6
million
buy
that
saw
the
price
of
the
meme
coin
almost
triple
in
seconds.

 

At
the
time,
the
buy
drew
criticism
from
the
Solana
community,
with
many
believing
that
the
whale
had
made
a
bad
investment.
However,
the
Dogwifhat
market
cap
rose
to
the
billions,
making
the
Solana
trader
tens
of
millions
in
profit.

Given
the
performance
of
Dogwifhat,
anticipation
for
MUMU
The
Bull
filling
the
wick
created
by
the
$2.4
million
buy
has
risen.
Community
member
@cheatcoiner
on
X
(formerly
Twitter),
echoed
this
sentiment,

saying,
“Time
to
fill
the
wick
now,
you
can’t
stop
the
bull.”

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson

Recommended Crypto Services, Products and Strategies: