A crypto whale has spent 10,790 Solana ($2.62 million) to purchase 6.13 million $SLERF perps. That’s according to data shared by Lookonchain, on November 21st, 2024.
As per the on-chain analytics, the big investor sold his Solana worth $2.62 million to buy $SLERF. He purchased after Binance listed the meme coin on its trading platform.
The investor bought 6.13 million $Serf tokens at an average price of $0.427 from Binance, after making a withdrawal of $2.62 million (worth 10,790 Solana tokens).
Why big investors stocking up on small tokens
$SLERF is one of the major Solana-based meme coins experiencing steady price appreciation because of what is popularly called whale accumulation. The crypto is attracting public attention and interest in the market.
Despite Bitcoin’s enormous price growth, big investors recently shifted their trading strategy, now looking to own huge holdings from small tokens. Whales are now keen on investing in some potential altcoins, anticipating future massive growth.
In the past few months, big investors from Binance accumulated millions of potential Solana meme coins, like $SLERF. The interest aroused optimism about these tokens, reflecting excitement among users and traders in the altcoin market.
Currently, enormous accumulations have become common because these tokens enable traders to reap millions of dollars, making massive price gains after launch.
The massive investments by large investors are the reason why $Slerf experiencing an uptrend. The token recently outperformed all Ethereum ecosystem tokens in trading volume following its first day of launch.
$SLERF price analysis
$SLERF is currently trading at $0.3875, 36.85% up in the last 24 hours. With a price rise of 40.10% in the past seven days, $Slerf is outperforming the global virtual currency market which is currently up 10.40%. Its market cap of $192.65 million ranks it as the 278th largest asset in the cryptocurrency market.
$Slerf price’s surge is associated with two main factors. The general resurgence of the crypto market and big investors accumulating the tokens. Due to its meme coin nature, the token is witnessing more market excitement.
