{"id":648072,"date":"2024-10-15T23:00:35","date_gmt":"2024-10-15T23:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=648072"},"modified":"2024-10-15T13:10:05","modified_gmt":"2024-10-15T13:10:05","slug":"deployer-solana-meme-coins-dumping","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/meme-coins\/deployer-solana-meme-coins-dumping\/","title":{"rendered":"Solana Meme Coins Rising But Is This Deployer Dumping On Degens?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Crypto prices are printing higher. Bitcoin, for example, broke above $66,000 before cooling off earlier today. Like the world&#8217;s most valuable coin, Solana and its meme coins are trending higher. According to <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.coingecko.com\/en\/coins\/solana\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">Coingecko<\/span><\/a><span data-preserver-spaces=\"true\">, SOL trades above $150, adding nearly 7% in the previous trading week.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Meme Coins Soaring But PELF Deployer Dumping<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The lift-off in Solana has seen some of its ecosystem tokens massively benefit. Among the many, Solana-based meme coins continue to rip higher. According to Coingecko, three Solana meme coins, including Popcat and DogWifHat, now command a market cap above $1 billion. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/sui\/sui-records-substantial-120-price-surge-but-insider-selling-claims-raise-red-flags\/\" target=\"_blank\" rel=\"noopener \">SUI Records Substantial 120% Price Surge, But Insider Selling Claims Raise Red Flags<\/a><\/div>\n<p><span data-preserver-spaces=\"true\"> While investors are closely tracking the performance of Popcat, the first cat-themed meme coin to break above the $1 billion level, some whales are fading the current bull run. One analyst, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/OnchainLens\/status\/12668197\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">citing<\/span><\/a><span data-preserver-spaces=\"true\"> Nansen data, observes that the deployer of the PELF, a meme coin on Solana, is offloading. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Initially, the deployer received 247 million PELF for 82 SOL worth $12,516. Later, the addresses received another 39.13 million PELF. According to on-chain data, the address has sold 3.2 million PELF for 662 SOL.<\/span><\/p>\n<figure id=\"attachment_648075\" aria-describedby=\"caption-attachment-648075\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-648075\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/GZ5_Z65b0AAnAHL.png?resize=1024%2C429\" alt=\"PELF deployer selling | Source: @OnchainLens via X\" width=\"1024\" height=\"429\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/GZ5_Z65b0AAnAHL.png?w=1546 1546w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/GZ5_Z65b0AAnAHL.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/GZ5_Z65b0AAnAHL.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/GZ5_Z65b0AAnAHL.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/GZ5_Z65b0AAnAHL.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/GZ5_Z65b0AAnAHL.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/GZ5_Z65b0AAnAHL.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-648075\" class=\"wp-caption-text\">PELF deployer selling | Source: @OnchainLens via X<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\"> Although analysts believe the deployer might have offloaded more tokens through other unknown addresses, the whale currently owns over $7.8 million worth of PELF at spot rates.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Usually, any liquidation by a whale is considered bearish and might significantly influence price action. Retail traders, some interested in meme coins, often closely monitor the accounts of known whales, including deployers. If they choose to sell, moving tokens to a DEX, speculators will also look to sell before prices tank.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Will Improving Crypto Sentiment Drive Demand?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">PELF remains in an uptrend, judging by the formation in the daily chart. The token is up nearly 300% from September lows. However, PELF is inside a broader range and down from its March 2024 highs. <\/span><\/p>\n<figure style=\"width: 1273px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.tradingview.com\/x\/obyzr8QB\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/obyzr8QB\/\" alt=\"PELF prices moving upward on the daily chart | Source: PELFUSDT on MEXC, TradingView\" width=\"1273\" height=\"588\"><\/a><figcaption class=\"wp-caption-text\">PELF prices moving upward on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/obyzr8QB\/\" target=\"_blank\" rel=\"noopener nofollow\">PELFUSDT on MEXC, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">If buyers are to take charge, there must be a confirmation of October 14 gains. In that case, PELF could break above $0.0008101, bottoming out from Q3 2024 lows.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoins-road-to-70000-analysts-set-next-targets-as-btc-retests-key-levels\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s Road To $70,000? Analysts Set Next Targets As BTC Retests Key Levels<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Improving crypto sentiment could lift meme coins, driving them to new valuations. As of October 15, the total market cap of Solana meme coins exceeds $10.9 billion.<\/span><\/p>\n<figure id=\"attachment_648076\" aria-describedby=\"caption-attachment-648076\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-648076\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-15T154327.311.png?resize=1024%2C510\" alt=\"Solana meme coins rising | Source: Coingecko\" width=\"1024\" height=\"510\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-15T154327.311.png?w=1501 1501w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-15T154327.311.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-15T154327.311.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-15T154327.311.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-15T154327.311.png?w=360 360w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-15T154327.311.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-15T154327.311.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-648076\" class=\"wp-caption-text\">Solana meme coins rising | Source: Coingecko<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Interestingly, they continue to grow in strength, looking at the number of Solana meme coins breaking into the top 10. According to <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.coingecko.com\/en\/categories\/solana-meme-coins\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">Coingecko<\/span><\/a><span data-preserver-spaces=\"true\">, Dogecoin is still the most valuable. However, DogWifHat, Bonk, and <a href=\"https:\/\/uniquehot.com\/news\/popcat-breakout-sparks-whale-buying-frenzy-near-peak-levels\/\" target=\"_blank\" rel=\"noopener \">Popcat<\/a> are now among the top 10, flipping Floki, Neiro on Ethereum and Brett.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from iStock, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto prices are printing higher. Bitcoin, for example, broke above $66,000 before cooling off earlier today. Like the world&#8217;s most valuable coin, Solana and its meme coins are trending higher. According to Coingecko, SOL trades above $150, adding nearly 7% in the previous trading week. Meme Coins Soaring But PELF Deployer Dumping The lift-off in Solana has seen some of its ecosystem tokens massively benefit. Among the many, Solana-based meme coins continue to rip higher. According to Coingecko, three Solana meme coins, including Popcat and DogWifHat, now command a market cap above $1 billion. Related Reading: SUI Records Substantial 120% Price Surge, But Insider Selling Claims Raise Red Flags While investors are closely tracking the performance of Popcat, the first cat-themed meme coin to break above the $1 billion level, some whales are fading the current bull run. One analyst, citing Nansen data, observes that the deployer of the PELF, a meme coin on Solana, is offloading. Initially, the deployer received 247 million PELF for 82 SOL worth $12,516. Later, the addresses received another 39.13 million PELF. According to on-chain data, the address has sold 3.2 million PELF for 662 SOL. Although analysts believe the deployer might have offloaded more tokens through other unknown addresses, the whale currently owns over $7.8 million worth of PELF at spot rates. Usually, any liquidation by a whale is considered bearish and might significantly influence price action. Retail traders, some interested in meme coins, often closely monitor the accounts of known whales, including deployers. If they choose to sell, moving tokens to a DEX, speculators will also look to sell before prices tank. Will Improving Crypto Sentiment Drive Demand? PELF remains in an uptrend, judging by the formation in the daily chart. The token is up nearly 300% from September lows. However, PELF is inside a broader range and down from its March 2024 highs. If buyers are to take charge, there must be a confirmation of October 14 gains. In that case, PELF could break above $0.0008101, bottoming out from Q3 2024 lows. Related Reading: Bitcoin\u2019s Road To $70,000? Analysts Set Next Targets As BTC Retests Key Levels Improving crypto sentiment could lift meme coins, driving them to new valuations. As of October 15, the total market cap of Solana meme coins exceeds $10.9 billion. Interestingly, they continue to grow in strength, looking at the number of Solana meme coins breaking into the top 10. According to Coingecko, Dogecoin is still the most valuable. However, DogWifHat, Bonk, and Popcat are now among the top 10, flipping Floki, Neiro on Ethereum and Brett. Feature image from iStock, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":546951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91895],"tags":[91713,85497,92459,83767,93208,88145,91898,12837,83626,90998,85361],"class_list":["post-648072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meme-coins","tag-dogwifhat","tag-floki","tag-meme-coin-trading","tag-meme-coins","tag-pelf","tag-pepe","tag-popcat","tag-sol","tag-solana","tag-solana-meme-coins","tag-solana-price"],"acf":[],"yoast_head":"\n<title>Solana Meme Coins Rising But Is This Deployer Dumping On Degens?<\/title>\n<meta name=\"description\" content=\"Solana meme coins are rising. 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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