Recently, the memecoin Moo Deng (MOODENG) has gained significant attention from crypto enthusiasts. A large investor, identified as a whale, was detected purchasing 2,000 SOL, further increasing their stake in MOODENG. This substantial purchase has positioned the investor as the second largest holder of MOODENG, having invested a total of 27,848 SOL (approximately $4.34 million).
Becoming the Second Largest MOODENG Investor
According to data from the blockchain analysis platform Lookonchain, the whale withdrew 2,000 SOL (worth $311,000) from the OKX cryptocurrency exchange just three hours ago to continue acquiring MOODENG coins. The investor paid $0.245 for each MOODENG coin, acquiring a total of 17.73 million coins. This action solidifies their position as the second largest investor in MOODENG.
This wallet address has previously shown active interest in MOODENG, spending a total of 27,848 SOL (about $4.34 million). Such large purchases underline investor confidence and interest in MOODENG.
Growing Interest in MOODENG
MOODENG is leading the trend among altcoins, capturing the interest of cryptocurrency investors. The significant volume of purchases enhances expectations for potential market growth. Investments from substantial wallet addresses can encourage other investors to take action as well.
The allocation of large funds towards cryptocurrencies is typically seen as a positive market indicator. As excitement builds around MOODENG’s future performance, these large acquisitions continue to generate notable market activity.
Currently, MOODENG is trading at $0.2416, reflecting a 12.7% drop in the last 24 hours. It is also worth noting that the all-time high for this altcoin was recorded at $0.3387 on September 28, 2024.
