Solana: Why did a whale buy SOL-based memecoins worth $18.57M?

• A Solana whale has scooped up $18.57 million in Solana-based memecoins.
• Beyond Solana’s speed advantage, what’s driving this move?

Interestingly, four of the top ten memecoins are built on Solana [SOL]. Yet, most are still far from their psychological targets. Take POPCAT – it hit $2 by mid-Q4 last year while other big coins struggled, but now it’s dropped to just $0.58.

For these tokens to regain momentum, whale support is crucial. And amid the current market chaos, a mysterious Solana whale just scooped up $18.57 million worth of Solana-based memecoins. Is this a coincidence, or something more?

Solana whale signals shift back to the OGs

Whale accumulation is often a key indicator that a local bottom is forming. When the market is shaky, big investors swoop in to grab assets at a discount, ready to cash in on profits once retail capital flows back in.

This is exactly what’s happening with Solana-based memecoins. A Solana whale account, “DWhUa,” recently made a huge $18.57 million purchase of four popular tokens: dogwifhat [WIF], Popcat [POPCAT], FWOG [SOL], and Michi [SOL].

While one Solana whale may not trigger a full rebound, it’s a positive sign, especially in today’s market.

With so many new memecoins flooding the space, this whale’s move could indicate a shift back to the OG tokens that have stood the test of time.

Take WIF, for example. Even after a significant 40% dip in just one month, it’s still holding strong in the top 10, above the $1 mark. What’s more, the top ten holders own a staggering 41% of all WIF tokens, totaling a hefty 410 million.

Source: SolScan

FWOG and Michi, although still fresh, show a similar pattern. Despite being less than a year old, Solana whales are already making significant claims, holding over 15% of each network.

Clearly, Solana whales are playing it smart—backing the tried-and-tested OG tokens while also promoting newer projects. This balanced approach appears to be a win-win for Solana, whether you’re part of the old guard or a newcomer.

What was the outcome?

Yes, the Solana whale’s $18.57 million purchase sparked a fresh wave of FOMO, creating the perfect “hype” moment. Yet, the price action has been surprisingly flat.

Looking at the charts, the four memecoins follow a familiar pattern: each one breaks past a psychological target, only to quickly retrace.

After a run of red candles, green ones usually follow, hinting at a potential reversal. However, despite these signals, the momentum just isn’t picking up.

Why? Whale influence might be the answer. The consistency in price action suggests the market is being subtly controlled.

Read dogwifhat’s [WIF] Price Prediction 2025–2026

Take WIF, for example – it’s dropped 66% from its peak of $4.80 during the Trump rally. FWOG is down by 75%, MICHI by 81%, and POPCAT by 72%. Despite Solana whale’s massive buy, these coins can’t seem to turn the tide.

While the Solana whale’s $18.57 million purchase may spark some short-term retail interest, a true rebound remains elusive.