A recent on-chain data point has reignited market speculation enthusiasm for Solana Meme coins. Blockchain analytics platform Lookonchain revealed that a trader turned an initial $321 into approximately $2.18 million in just 11 days, with a return of about 6800 times, becoming a landmark case in the recent Solana Meme coin rally.
Data shows that this wallet address is 8BGiMZ. Through continuous small batch purchases, it accumulated about 45.58 million units of the Solana-based Meme coin “114514.” Transaction records indicate that individual buy-ins were generally only a few dollars, with the accumulation phase being highly discreet, occurring before the token’s price started to rise, reflecting typical early stealth trading characteristics.
Subsequently, on-chain and DEX data show that after a prolonged sideways consolidation, the token’s price suddenly entered a vertical surge phase as buying pressure flooded in. Within just a few hours, the price rapidly increased, with the fully diluted valuation approaching $50 million. Dexscreener data shows that this meme coin surged nearly 700% in 24 hours, with trading volume exceeding $20 million, and liquidity and wallet count rising simultaneously, forming a typical Solana Meme coin explosion.
However, this case also highlights the high-risk nature of meme coin trading. Such extreme gains heavily depend on entry timing, social media hype, and initial liquidity scarcity. Once early holders start to cash out, subsequent chasing of the high often faces severe retracement risks. Currently, no large-scale sell-off has been observed from this address on-chain; the overall position remains stable, but future volatility cannot be ruled out.
From a broader perspective, the meme coin sector is overall warming up. After a year of correction, the total market cap of meme coins has rebounded above $50 billion, led by tokens like PEPE, BONK, and FLOKI, driving the sector to rise over 20% in early January. Market data shows that the share of meme coins among altcoins has recovered from historic lows, with wallet activity and trading volume improving in tandem, reflecting a resurgence of risk appetite in the crypto market.
Meanwhile, demand for leveraged meme coin ETFs is heating up, to some extent expanding meme coin exposure to a wider range of investors, which could have a deeper impact on the overall altcoin market structure.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Solana Price Under Pressure, Can Institutional Buying Support Help SOL Return to $100?
Solana (SOL) has recently hovered around $86-87, declining nearly 7% over the past week, related to overall crypto market weakness. Clear classification of crypto assets by U.S. regulators benefits institutional investors. Capital flows show robust institutional demand, with continuous net inflows into Solana ETFs. Technical analysis shows SOL below the $90 resistance level, with support at $85. Investors should monitor institutional dynamics and technical indicators to gauge short-term trends.
GateNews1h ago
Solana Sell Pressure Ending Signal Appearing? SOL Fund Outflows Surge, Key Support at $88 Facing Test
Solana (SOL) has shown structural changes recently, currently trading around $87.29 with a slight decline. Although market sell-off behavior is shifting and fund outflows are increasing, the price has not yet broken through the key resistance at $92.19, and the trend requires further verification. The current supply and demand structure has improved somewhat, but a reversal has not been confirmed.
GateNews4h ago
Meta's Metaverse failure, Solana's president dismisses GameFi—are blockchain games really gone for good?
Solana Foundation President Lily Liu stated that blockchain gaming is difficult to recover and bluntly said it "won't come back," reflecting shaken market confidence. Despite once attracting massive investment, the gaming model lacks sustainability and content, causing the market to shrink to $1.212 billion. Developers are shifting focus to emphasize gaming essence, viewing blockchain as an auxiliary technology rather than a core selling point.
CryptoCity5h ago
Last week SOL spot ETF saw net inflows of $21.1 million, with Bitwise BSOL recording weekly net inflows exceeding $20 million.
According to SoSoValue data, from March 16-20, SOL spot ETFs saw net inflows of $21.1 million, primarily from Bitwise ETF BSOL with weekly net inflows of $20.9863 million and historical cumulative net inflows reaching $803 million. Fidelity ETF FSOL experienced net outflows of $1.12 million. The total assets under management for SOL spot ETFs currently stands at $875 million.
GateNews8h ago
Forward Industries Funds $27.4M Share Buyback, Deepens Solana Treasury Focus
Forward Industries is initiating a $27.4 million share buyback funded by a $40 million loan backed by staked Solana, amidst declining stock and crypto prices. This strategy aims to enhance shareholder value and reduce costs while navigating a challenging market.
LiveBTCNews20h ago
Claude AI Predicts the Price of Solana and XRP If the Clarity Act Doesn’t Pass in 2026
As of March 2026, the CLARITY Act has been stuck for months. However, we’ve finally seen a breakthrough with the agreement in principle between the key senators on the debate surrounding stablecoins and yield.
The Senate Banking Committee is set to mark the bill in mid to late April. However,
CaptainAltcoin21h ago
