Solana’s ($SOL) price plunge has recently led to a significant whale decision. In this respect, a crypto whale’s wallet, “G6gemN,” has purchased a staggering $5M in $SOL amid the price drop below $!20. As per the data from Lookonchain, this buyout highlights the renewed confidence among the high-volume $SOL traders. Additionally, this move could lead to notable gains based on the whale’s previous well-timed decisions.
Crypto Whale G6genM Purchases $5M Amid $SOL’s Plunge Below $120
In line with the latest market data, the crypto whale wallet, “G6gemN,” has bought $SOL worth of $5 million. The purchase took place in 3 transfers from the hot wallet of the crypto exchange OKX. These transactions include 24,466K $SOL, 16,521K $SOL, and 12,998K $SOL, accounting for $2,99M, $2,01M, and $1.58K, respectively. The respective inflows signify an accumulation of a total of 41K $SOL tokens.
Traders Anticipate Huge Price Action Based on Whale Conviction
Formerly, the whale wallet has operated as a swing trader, amassing during price dips while offloading during rallies. Specifically, the whale obtained 9.047K $SOL from OKX eight months back. Before that, 9 months back, it received 8.41K $SOL. These buyouts reinforce the whale’s reputation as a consistent player purchasing during market dips. According to Lookonchain, after the exclusive $5M purchase by the whale, the traders are closely looking for another noteworthy price action based on the heavy conviction.
