In the world of cryptocurrency, meme coins have been gaining significant traction, especially on the Solana network. Over the past year, meme coin trading on Solana has seen explosive growth, with coins like BONK, Dogwifhat, and POPCAT skyrocketing from below $1 million to over $1 billion in market cap. While there have been other successful meme coins reaching into the hundreds of millions in market cap, one particular meme coin is currently making waves.
MUMU The Bull, another meme coin on the Solana network, has been steadily climbing towards the $100 million market cap level. This week, it finally reached the milestone, sparking a frenzy of interest among investors. The excitement reached a fever pitch when a Dogwifhat whale made a massive $2.4 million purchase of MUMU The Bull, triggering a surge in the price of the coin.
The Solana trader’s $2.4 million buy into MUMU The Bull was a significant event, as it sent the meme coin’s market cap soaring to $820 million in a matter of seconds. While the price has since retraced to its regular level, investors were intrigued by the coins that were swapped for MUMU The Bull. According to on-chain data, the Solana trader had been holding nearly $3 million worth of Dogwifhat before the purchase, swapping $2.4 million worth of WIF for MUMU The Bull and becoming the fourth-largest holder of the meme coin.
The whale’s massive buy into MUMU The Bull has drawn comparisons to the early days of Dogwifhat, when a similar event occurred that saw the price of the meme coin nearly triple in seconds. Despite initial criticism from the Solana community, the Dogwifhat market cap eventually rose to the billions, earning the whale tens of millions in profit. With this in mind, there is growing anticipation for MUMU The Bull to follow a similar trajectory.
Community members are optimistic about the future of MUMU The Bull, with some likening it to the success of Dogwifhat. As one member, @cheatcoiner, expressed on social media, “Time to fill the wick now, you can’t stop the bull.” The $2.4 million buy has certainly stunned the community and raised hopes that MUMU The Bull could be the next big meme coin on the Solana network. Only time will tell if this meme coin will reach the heights of its predecessors, but for now, all eyes are on MUMU The Bull as it continues to make waves in the cryptocurrency world.