TL;DR

• One meme coin stands out with an almost 100% improve in its worth, pushing its market capitalization previous $500 million and making it the twelfth largest in its class.
• The asset’s vital value surge coincides with elevated purchases by whales.

MEW’s Spectacular Ascent

The cryptocurrency market suffered an enormous pullback previously few days, with main digital belongings equivalent to Bitcoin (BTC) and Ethereum (ETH) dropping to multi-week lows. The meme coin sector was notably harmed, with Dogecoin (DOGE), Shiba Inu (SHIB), dogwifhat (WIF), Pepe (PEPE), and plenty of others nosediving by double digits on a weekly scale.

The scenario seems to be a lot better in the present day (April 15). The market capitalization of the meme coin area of interest is inching in direction of the $55 billion mark, whereas most main tokens are properly within the inexperienced. One Solana-based meme coin, although, leads the pack with a day by day improve of just about 100%, and its title is Cat in a Canine World (MEW).

The asset’s market capitalization surpassed the $500 million mark, making it the twelfth greatest within the meme coin realm.

Whales on the Transfer

One other meme coin that has skilled a considerable revival in the present day is SLERF (which can be constructed on the Solana blockchain). Its value is up round 37%, whereas its market capitalization exceeded $200 million.

The spectacular soar of MEW and SLERF coincides with elevated whale exercise. In keeping with Lookonchain, giant buyers purchased vital quantities of the belongings through the newest market crash.

One whale withdrew over $1.5 million from Binance to buy nearly 480 million MEW tokens at a median value of $0.0032, whereas one other purchased 4 million SLERF cash, spending roughly $1.3 million.

Coping with meme cash and promoting the stash on the proper time might lead to multi-million income. Nevertheless, merchants also needs to take note the infamous volatility of the asset class, which can lead to essential losses. If you’re about to hop on the bandwagon, please verify our devoted video under to keep away from some widespread errors: