The crypto world witnessed a splash of excitement as Solana meme tokens MEW and SLERF caught the attention of whales who bought significant amounts amidst the broader crypto market's recovery.

A fascinating phenomenon unfolded in the cryptocurrency market as Solana meme tokens MEW and SLERF attracted massive whale purchases during the broader crypto market's rebound. On-chain data revealed that whales acquired nearly 500 million MEW and 4 million SLERF from Binance in the past 24 hours. This sudden surge sparked a frenzy among traders and investors worldwide, raising speculations about the future price action of these tokens.

Two whales, according to LookonChain, a blockchain analytics platform, withdrew almost $3 million worth of Solana to buy MEW and SLERF in the past 24 hours as the broader crypto market displayed recovery signs. The whale with the address B3aTMg withdrew 10,438 SOL, equivalent to $1.54 million, to buy 479.6 million MEW at an average price of $0.0032. Meanwhile, the whale identified as 2zWLX9 withdrew 8,561 SOL, worth $1.27 million, to buy 4 million SLERF at an average price of $0.317.

These accumulations gained significant traction across the broader crypto market, as the mentioned Solana meme tokens enabled traders to make millions quickly after their launch, with massive gains. However, MEW and SLERF also experienced price corrections recently, with weekly charts showing a 5% and 6.30% dip in prices, respectively.

Despite these corrections, the crypto market's recovery led to a pump in most cryptos, including MEW and SLERF, which noted substantial gains. The whale accumulations added a bullish tint to the Solana meme tokens.

MEW and SLERF Prices Surge

At the time of writing, the MEW (Cat in a Dogs World) token has surged by 80.76% in the past 24 hours and is currently trading at $0.004289. Meanwhile, the SLERF token has gained 26.97% in the past 24 hours and is currently resting at $0.3765.

The surge in Solana meme coins' prices can be attributed to a couple of factors, including the broader crypto market's uptrend and the substantial whale accumulations. However, the tokens' on-chain metrics further highlight market optimism for these tokens.

MEW's open interest increased by 84.33%, while derivatives volume soared by 152.25%. SLERF's open interest rallied by 49.42%, accompanied by a derivatives volume upswing of 165.08%. This collective data indicates heightened investor interest in these assets, further solidifying the meme coins' market uptrend.