Bitrabo Editorial
In the realm of meme coins on the Solana network, the market has witnessed significant growth, as seen with coins like BONK, Dogwifhat, and POPCAT escalating from below $1 million to over $1 billion in market capitalization. While there have been other successful meme coins reaching hundreds of millions in market cap, one particular coin has recently caught the attention of the community following a substantial $2.4 million purchase by a Dogwifhat investor, sparking a notable price surge.
A Major Investment of $2.4 Million in MUMU The Bull on Solana
MUMU The Bull, another Solana-based meme coin, has been steadily progressing towards a $100 million market cap milestone. Just this week, it successfully crossed the $100 million mark, prompting a wave of FOMO among certain investors.
On Thursday, SolanaFloor, the on-chain data tracker for the Solana network, highlighted a significant investment in this meme coin, primarily executed through decentralized exchanges (DEXes). The investment, totaling approximately $2.4 million, was made by a prominent Solana trader in a single transaction.
Following this sizable investment, a sharp price spike occurred in the MUMU The Bull meme coin, elevating its market cap to $820 million within seconds. Although the price has since normalized, investors are intrigued by the coins traded for MUMU The Bull during this transaction.
According to on-chain data, the Solana trader previously held nearly $3 million worth of the Dogwifhat meme coin before switching $2.4 million worth of WIF for MUMU The Bull, positioning the trader as the fourth-largest holder of the meme coin.
Is MUMU The Bull Poised to Follow Dogwifhat’s Success?
The recent $2.4 million purchase of MUMU The Bull has drawn parallels to the early days of Dogwifhat, where a comparable event unfolded. In January 2024, during Dogwifhat’s surge, an $8.6 million purchase nearly tripled the meme coin’s price in seconds.
Initially met with skepticism from the Solana community, the whale’s investment in Dogwifhat eventually proved incredibly lucrative as the meme coin’s market cap soared into the billions, generating tens of millions in profit for the trader.
Given Dogwifhat’s success story, expectations are high for MUMU The Bull to emulate the momentum triggered by the recent $2.4 million investment. A community member, @cheatcoiner on X (previously Twitter), expressed optimism by emphasizing the need to capitalize on the momentum, stating, “Time to fill the wick now, you can’t stop the bull.”