As the cryptocurrency market experiences a rebound, whale investors have been actively accumulating two notable tokens: $MEW and $SLERF. The significant purchases made by these large-scale investors have caught the attention of Lookonchain.
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Whale Buys 479.6 Million $MEW
A whale investor with the wallet address B3aTMg has made a substantial investment in $MEW, the native token of the Meow project. The investor withdrew 10,438 $SOL from Binance, worth approximately $1.54 million, and used the funds to purchase 479.6 million $MEW tokens at an average price of $0.0032 per token.
This significant investment in $MEW suggests that the whale investor sees strong potential in the Meow project and its native token. The Meow project aims to create a decentralized ecosystem for the creation, sharing, and monetization of user-generated content.
Another Whale Invests $1.27 Million in $SLERF
In a similar move, another whale investor with the wallet address 2zWLX9 has made a significant investment in $SLERF, the native token of the Slerf project. The investor withdrew 8,561 $SOL from Binance, worth approximately $1.27 million, and used the funds to purchase 4 million $SLERF tokens at an average price of $0.317 per token.
The Slerf project is a decentralized finance (DeFi) platform that aims to provide users with a seamless and secure way to access a wide range of financial services, including lending, borrowing, and staking. The substantial investment by the whale investor indicates a strong belief in the potential of the Slerf project and its native token.
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Show more +The Significance of Whale Accumulation
Whale investors’ accumulation of $MEW and $SLERF during the market rebound is a notable development for several reasons:
- Confidence in the Projects: The significant investments made by these whales demonstrate their confidence in the long-term potential of the Meow and Slerf projects. Whale investors often have access to in-depth research and insights that guide their investment decisions, and their accumulation of these tokens serves as a positive indication for the projects’ future prospects.
- Potential Price Impact: The substantial purchases made by these whales can have a significant impact on the price of $MEW and $SLERF. As these investors take large amounts of tokens off the market and hold them, the supply of available tokens decreases, potentially leading to an increase in price if demand remains constant or increases.
- Market Sentiment: Whale accumulation during a market rebound can contribute to positive market sentiment, as it suggests that large-scale investors are bullish on the overall direction of the cryptocurrency market. This positive sentiment can, in turn, attract more investors and drive further price appreciation.
The recent accumulation of $MEW and $SLERF by whale investors during the market rebound is a significant development that highlights the growing interest in these projects and their native tokens.
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