The rise of Solana-based memecoins continues, with $POPCAT gaining significant traction, especially among large investors.

Despite broader market downtrends since March, $POPCAT has defied expectations, steadily rising in value since its launch. The increasing decentralization of top holders is a testament to its growing popularity.

On-chain data reveals that whales are aggressively buying into $POPCAT. Recently, one whale swapped around $800,000 worth of $WIF for $POPCAT. Now, he is converting his $SOL holdings into the popular memecoin, with 6,300 SOL, valued at approximately $830,000, remaining in his wallet for further purchases.

Notable Whale Spends 1.6 Million USDC To Buy 2.36 Million $POPCAT 

Another notable whale has been particularly active, with data from Lookonchain showing a massive investment in $POPCAT. Over the past three hours, this whale spent 1.6 million USDC to acquire 2.36 million $POPCAT at a price of $0.68. This comes after a previous $POPCAT purchase between April 21 and April 26, where the whale spent 1.84 million USDC to buy 6.05 million $POPCAT tokens. He later sold these holdings on September 5, netting a profit of $1.47 million USDC.

These large transactions signal that whales are confident in $POPCAT’s long-term potential, and their activity is fueling more attention towards the token. As more high-value traders continue to invest, the growing decentralization among top holders suggests that $POPCAT is carving out a strong position in the Solana ecosystem, defying the broader memecoin trend of 2024.

With sustained whale interest and ongoing demand, $POPCAT’s future looks promising, even in a challenging market environment.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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