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The Solana meme coin market continues its meteoric rise as a crypto whale withdrew $7.12 million worth of PNUT, driving its price up 2000%. Simultaneously, GOAT has surged by 90% since the same whale invested $6.1 million, highlighting the explosive growth of Solana-based meme coins.
Whale Moves $7.12M in PNUT
Solscan reports that on November 16, an anonymous crypto whale transferred 3,848,000 PNUT from Binance to an individual's address.
Because crypto whales are often indicators of impending market swings, the $7.12 million total value of this transfer garnered attention. Within the past week, the price of PNUT has increased by an astounding 2000%.
Not only did the whale do something noteworthy with PNUT, but GOAT as well.
GOAT Investment Yields $5.5M Profit
Buying 10,000,000 GOAT tokens at an average price of $0.61 cost the trader $6.1 million. Following a 60% gain not long ago, GOAT has jumped another 90% following the whale acquisition. At the moment, the whale has a $5.5 million floating profit from its investment.
The general uptick of meme coins, especially on the Solana blockchain, is congruent with the recent spike in the prices of PNUT and GOAT. Crypto investors and traders are taking notice of PNUT because it is currently trading at an all-time high and has the potential to go even higher.
Solana Meme Coin Market Heats Up
Solana meme tokens have had a meteoric spike in value during the bull market, thanks to the popularity of meme coins built on the Ethereum platform, Coingape reports. With ATHs for ACT and PNUT, the Solana meme coin sector is heating up.
At the moment, PNUT is selling for $1.85, with a top of $2.17 and a low of $1.63 during the past 24 hours. With a 24-hour trading volume of $2.88 billion, its weekly rise is 2000% and its last month spike is 3000%.
GOAT: A Meme Coin on the Rise
Another meme coin based on Solana, Goatseus Maximus—GOAT—is likewise riding the bull market wave.
The GOAT token, which was named after a popular tweet by @truth_terminal and backed by an AI bot, has become quite popular among cryptocurrency investors very quickly. The predicted price of GOAT, which is currently trading at $1.155, is $5. The price ranged from $0.899 to $1.26 in the past 24 hours.
With a daily trading volume of around $593.36 million, it has risen by 300% over the past month and 52% over the last week.
