"After making millions, traders want to buy some more BONK? He is sure."
Wealthy investors who made millions trading in a Solana (SOL)-based memecoin called Bonk (BONK) are suddenly showing renewed confidence in rival Dogecoin (DOGE).
According to a report by blockchain tracking firm Lookonchain, traders who made a profit of $6.9 million in BONK have once again spent 386 SOLs worth $40,000 to buy 3.29 billion memecoins.
Please note that the trader spent 6,998 SOL worth $276,000 to buy more than 371.4 billion BONK in nine months, then he sold half of the BONK when the price saw an increase.
Not only that, the whales also made a big move in Wrapped Bitcoin (WBTC) after selling a total of 355 WBTC worth 15.9 million USDT while the price was at $44,875 for a gain of $5.6 million.
While another whale also collected almost 400 WBTC, where he who bought WBTC on-chain spent about 18.25 USDC to buy 391 WBTC in the current week when the price was trading at $46,689.
Through observation, BONK needs to break through $0.000020 first to reach again at $0.000035 but if it fails then the price can drop back to $0.000009 or $0.0000007.
As of this writing, BONK price is still down 4.40% at $0.000015 in the last 24 hours with a market cap of $977 million but is still up 26.16% over the last week while WBTC is up 0.96% at $46,497 in the last 24 hours.
