Crypto Whale Spends $2.62M of Solana (SOL) to Buy 6.13M $SLERF Meme Coin Tokens

$SLERF is one of the major Solana-based meme coins experiencing steady price appreciation because of what is popularly called whale accumulation

A crypto whale has dropped a staggering $2.62 million to acquire 6.13 million $SLERF perps, as revealed by Lookonchain on November 21, 2024.

According to on-chain analytic data, the whale investor sold his Solana, valued at $2.62 million, to purchase $SLERF. The investor purchased 6.13 million $Serf tokens at an average price of $0.427 from Binance, following a withdrawal of $2.62 million (10,790 Solana tokens).

The Impact of Big Investors on Small Tokens

Due to a phenomenon known as "whale accumulation," $SLERF, a Solana-based meme coin, has experienced a sustained increase in price appreciation. The crypto is garnering attention and interest from the broader market.

In a departure from prior trends, large investors have shifted their trading strategies to acquire substantial holdings of smaller tokens. Anticipating future exponential growth, whales are now seeking to own vast quantities of promising altcoins.

Over the past few months, Binance's big investors have amassed millions of promising Solana meme coins, such as $SLERF. This interest has generated optimism for these tokens, reflecting the excitement among users and traders in the altcoin market.

Given the potential for these tokens to generate millions of dollars in revenue and the massive price increases following their launch, substantial accumulations have become a common occurrence.

Due to these massive investments, $Slerf has experienced a uptrend, with the token outperforming all Ethereum ecosystem tokens in trading volume on its first day of launch.

Analysis of $SLERF Price

At the moment, $SLERF is trading at $0.3875, up 36.85% over the past 24 hours. With a price increase of 40.10% over the past seven days, $Slerf outperforms the global virtual currency market, which is currently up 10.40%. With a market capitalization of $192.65 million, it ranks as the 278th largest asset in the cryptocurrency market.

Two main factors contribute to the surging $Slerf price: the broader crypto market recovery and the accumulation of the tokens by big investors. Due to its meme coin性質, the token experiences greater market excitement.