Last year, meme coin trading on the Solana network saw explosive growth, with tokens such as BONK, Dogwifhat, and POPCAT soaring from less than $1 million to over $1 billion in market value. Other successful tokens also reached market values in the hundreds of millions of dollars. However, one meme coin has stood out as Dogwifhat completed a massive $2.4 million purchase, triggering a price surge.

Solana Trader Pumps $2.4 Million into MUMU The Bull

MUMU The Bull is another meme token on Solana, slowly approaching a $100 million market value. This week, it finally reached $100 million, and at this point, some investors seem to be experiencing fear of missing out (FOMO).

On Thursday, the on-chain data tracker SolanaFloor reported that the meme coin was heavily bought, with most of the trading volume coming from decentralized exchanges (DEX). A Solana trader purchased approximately $2.4 million worth of meme coin in a single transaction.

The result of this purchase was a significant price increase for MUMU The Bull meme coin, with its market value soaring to $820 million within seconds. Of course, the price has since returned to normal levels, but an interesting fact that attracted investor attention is which tokens were exchanged for MUMU The Bull.

According to on-chain data, prior to the purchase, the Solana trader held nearly $3 million worth of Dogwifhat meme coin, and then exchanged $2.4 million worth of WIF for MUMU The Bull. This automatically made the Solana trader the fourth largest holder of the meme coin.

Will MUMU The Bull be the next Dogwifhat?

The $2.4 million purchase of MUMU The Bull by a whale has sparked comparisons to Dogwifhat, as a similar event occurred with WIF in its early days. Back in January 2024, when Dogwifhat's price surged, there was a massive $8.6 million purchase that caused the meme coin's price to nearly triple within seconds.

At the time, this purchase transaction drew criticism from the Solana community, with many believing that the whale had made a poor investment. However, Dogwifhat's market value rose to tens of billions of dollars, earning the Solana trader tens of millions of dollars in profit.

Given Dogwifhat's performance, expectations for MUMU The Bull to fill the funding created by the $2.4 million purchase have risen. Community member @cheatcoiner on X (formerly Twitter) also expressed a similar view, saying, "It's time to fill the funding now, you can't stop this bull."

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