TL;DR
- One meme coin stands out with an almost 100% increase in value, making it the 12th largest coin in its category with a market capitalization of over $500 million.
- This significant price increase in the asset coincides with an increase in purchases by whales.
MEW's emotional rise
Cryptocurrency markets have suffered significant declines over the past few days, with major digital assets such as Bitcoin (BTC) and Ethereum (ETH) falling to multi-week lows. The memecoin sector has been particularly affected, with Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifat (WIF), Pepe (PEPE), and many other currencies plummeting by double digits on a weekly scale.
Today (April 15th), things seem to be much better. The market cap of the meme coin niche market is inching closer to the $55 billion level, while most of the major tokens are making good profits. But one of his Solana-based meme coins is leading the way with almost 100% daily growth, and its name is Cat in a Dogs World (MEW).
The asset has a market capitalization of over $500 million, making it the 12th largest in the meme coin space.
whale on the move
Another meme coin that has made a huge comeback today is SLERF (also built on the Solana blockchain). The price is up about 37%, but the market cap is over $200 million.
The impressive jumps in MEW and SLERF coincide with increased whale activity. According to Lookonchain, large investors purchased I lost a lot of money in the recent market crash.
One whale withdrew more than $1.5 million from Binance and bought around 480 million MEW tokens at an average price of $0.0032, while the other spent around $1.3 million to buy 4 million SLERF coins. .
Dealing with meme coins and selling your stash at the right time could net you millions of dollars in profits. However, traders should also be mindful of this asset class's notorious volatility, which can lead to significant losses. If you're looking to jump on the bandwagon, check out our dedicated video below to avoid common mistakes.
