Crypto Whale “DWhUa” Makes Headlines with a Massive $18.57 Million Investment in Solana-Based Memecoins

A crypto whale, identified as “DWhUa,” has made headlines with a massive $18.57 million investment in Solana-based memecoins. The purchase included $13.3 million in $WIF, $3.82 million in $POPCAT, $980,000 in $FWOG, and $470,000 in $MICHI. All tokens were transferred to a newly created wallet, “D2Noa,” sparking speculation about potential price movements and market trends.

As the dust settles on this significant event, let's delve into the performance of each memecoin and uncover any noteworthy technicalities.

$WIF Faces Decline Despite Volume Surge

Kicking off our analysis is $WIF, the largest holding in this crypto whale’s portfolio. The token commenced the last 24 hours at $1.97 before experiencing a 10.45% drop to $1.85. This decline occurs amidst a sharp 24-hour trading volume surge of 63.40%, indicating either active trading or potential sell-offs.

As we zoom in on the technicals, we observe support levels at $1.80 and $1.70, which could provide a safety net for prices. Conversely, resistance levels at $1.90 and $2.00 may challenge any recovery attempts.

Interestingly, the high volume-to-market cap ratio of 28.05% underscores the token’s volatile trading environment, making it susceptible to further price fluctuations.

$POPCAT: Sharp Decline with Increased Trading Activity

Next up is $POPCAT, which currently trades at $0.6669, showing a significant 16.84% daily decline. After peaking at $0.802, the token faced sharp downward pressure. However, we also note a 20.64% increase in trading volume, suggesting heightened activity in the market.

Observing the support and resistance levels, we see $0.65 and $0.60 acting as potential floors, while $0.70 and $0.75 could hinder any recovery attempts. Moreover, the token’s entire circulating supply amplifies price sensitivity, making it vulnerable to further fluctuations.

$FWOG Sees Moderate Losses With Rising Volume

Moving on, we have $FWOG, which is priced at $0.2285, down 4.63% over the last 24 hours. Commencing the session with gains, the token faced consistent downward pressure, ultimately erasing any early漲幅.

On the other hand, trading volume surged by 68.59%, indicating increased activity in the market. Notably, support levels at $0.22 and $0.21 could prevent further declines, while resistance at $024 and $0.25 may limit any upward momentum.

With a volume-to-market cap ratio of 20.93%, we observe moderate trading intensity for $FWOG.

$MICHI Recovers Slightly Amid Mixed Trends

Last but not least, we have $MICHI, which experienced a 1.06% gain, bringing its price to $0.1232. The token recovered from intraday lows of $0.111, supported by a 15.41% rise in trading volume.

As we glance at the technicals, key support levels at $0.115 and $0.111 could provide stability, while resistance at $0.1239 and $0.126 may hinder any bullish attempts. The circulating supply enhances liquidity, making the token responsive to any further market movements.