Whales Switch Allegiances in Meme Coin Battle: BONK Surges as PEPE and WIF Gain Momentum

A crypto whale has made a substantial profit of over $2.9 million by strategically investing in the meme-inspired cryptocurrency BONK, according to Lookonchain, a popular on-chain data tracker.

Whale Seizes Opportunity: Acquires $1.5 Million Worth of BONK Before 50% Surge

The entity acquired 98 billion BONK tokens, valued at more than $1.5 million, from Binance just before the token’s price surged by over 50% in a single day. As of now, the whale holds 319.44 BONK tokens, amounting to over $7 million, with unrealized profits of approximately $2.9 million.

BONK is currently trading at $0.00002295, reflecting a 6% increase from yesterday and a remarkable 90% surge for the week.

Meme Coin Market Surges to $32 Billion: PEPE Leads Weekly Gains with 180% Surge

The meme coin market has witnessed a significant shift from $27.2 billion to $32 billion this week, indicating a notable increase in crypto market activity. PEPE emerged as a key driver behind this upswing, experiencing a massive 180% surge weekly.

Lookonchain also reported on another whale taking advantage of the PEPE hype, selling off their holding of 1.97 trillion PEPE tokens, valued at $6.07 million, generating a profit of $3.49 million. Subsequently, the whale invested in SHIB, as well as metaverse coins like MANA and SAND.

Dogwifhat (WIF) Surges 10% to New All-Time High, Emerging as Solana's Hottest Meme Coin

Dogwifhat (WIF) surged 10% on Thursday, hitting a new all-time high and nearly reaching the $1 target. Notably, WIF has exploded by 200% this week, solidifying its position as one of the hottest Solana-based meme coins alongside BONK.

An individual who initially invested just $310 worth of Solana (SOL) to purchase 2.58 million WIF tokens now holds assets valued at approximately $1.4 million.

FOMO Sparks Surge in Meme Coin Prices: Caution Advised Amidst Volatility

The recent surge in price for these popular meme coins has generated significant FOMO, leading users to take risky bets on tokens like WIF or PEPE. Readers are advised to exercise caution when engaging with these types of cryptocurrencies.

In conclusion, while BONK surges and whales switch allegiances, caution is warranted in navigating the volatile meme coin market.