Smart money and strategic whales have not given up on Solana memes. In the past few days, FARTCOIN gained on irrational sentiment, drawing the biggest net inflows.
Whales on Solana tried to make the best of market volatility. In the past few days, whales and smart money rolled over into a new selection of memes. Solana meme tokens saw $9.2M in strategic disposals, where selling mostly affected Official Trump (TRUMP). Memes remained active, even as Solana (SOL) only recovered to around $110 after the recent crash.
Whales are back on Solana meme train
On Solana, whales bought a selection of 1,351 assets, after divesting 1,561 assets. On-chain data showed buyers outnumbered sellers, with 315 buyers moving into a new selection of memes. While there is no mass inflow of retail traders, there are enough whales that are still ready to trade memes for fast SOL profits or as a sign of conviction.
The meme token narrative gained in the past day and also attracted smart traders. The smart money also spilled over into AI agents, boosting Virtuals Protocol (VIRTUAL), based on Alphanomics data.
FARTCOIN was the top trending meme token, but smart money flowed into AI agents, boosting VIRTUAL. | Source: Alphanomics
Solana meme tokens have a total market capitalization of $5.9B after the recent correction. The only token with a valuation above $1B is TRUMP, with all other assets erasing most of their value. After the recent round of selling, TRUMP slid over 19% in the past week. The current Solana meme rallies are mostly tied to irrational tokens, while widely listed WIF, GIGA, MOODENG and PNUT have lagged behind, despite being available through Coinbase.
Some whales acquired SPX, GRIFFAIN, BNB and other assets even though they are holders. Some of the recent FARTCOIN purchases also show conviction rather than short-term swaps.
Smart money was not only picking meme tokens, with some top whales accumulating BNB, AAVE, MKR and other infrastructure leaders.
FARTCOIN performs irrational rally
Even as the S&P 500 index erased a year of gains, FARTCOIN traders did not care. The asset rallied by over 31% in the past day, reaching a weekly high of $0.60. FARTCOIN is still trading near a three-month low, after peaking above $2.11.
FARTCOIN got a boost for its recent rally after a mention by @wallstreetbets. The recent losing streak of S&P 500, erasing up to 8% in the past two days, caused a round of financial nihilism. Traders rushed into FARTCOIN, which outperformed the stock market.
The FARTCOIN rally was supported by both retail and smart buyers. In total, FARTCOIN saw $778,189 in net inflows. In the second place, buyers poured over $758K into SPX6900 (SPX).
One of the major contributors to the rally was the wif.sol whale. The whale ended up with 4.46M FARTCOIN, building up a position with 0.30% of the token’s supply. The wallet of wif.sol is now ranked at position #61 based on the top 150 holders.
The position of wif.sol was built deliberately, after the wallet holder converted 10 WBTC specifically for the task of acquiring more FARTCOIN. The whale boosted a general ‘hate rally’ for FARTCOIN, which happened against the trend of the entire crypto market.
FARTCOIN was active both on centralized markets and on DEX. The top profit taker for FARTCOIN returned to buying, acquiring more of the token in the span of five hours. The top whale’s wallet ended up with $156.2K worth of FARTCOIN, after a series of swaps at $0.61.
The irrational bidding for memes did not affect SPX, which lost 11.9% down to $0.44. However, buyers returned to GMX, causing a rally from $9.69 to $12.55, while the token also traded with the highest volumes in the past three months. Even Unicorn Fart Dust (UFD) had a sympathy rally, rising by around 5% to $0.018.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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