Lookonchain, a smart money on-chain platform, recently shared insights about a whale who withdrew $2.3 million from Binance to purchase 314 million BOME, a novel memecoin. This whale made a strategic move by buying BOME before it was listed on Binance, accurately predicting its rise in value. The whale’s decision to invest in BOME was based on his belief that this memecoin has the potential to be the next SHIB, a popular cryptocurrency.
In a revealing post on X, the whale shared that his journey as a crypto investor has had its ups and downs. He mentioned a moment of panic during a market downturn on March 15, which led him to reassess his investment strategy. Amid the uncertainty, he chose to invest in BOME, a memecoin built on the Solana blockchain.
Despite initially aiming to protect his capital, the whale shifted his perspective upon witnessing the growing popularity of BOME within the crypto community. Drawing parallels between SHIB and BOME, he saw an opportunity for significant growth in the Solana-based memecoin. With BOME’s rapid rise in value after its launch on November 16, 2024, trading at $0.00751 and surging over 300% within hours, the whale’s early investment in BOME proved to be highly profitable.
As BOME continued to trade at $0.0133, showing signs of recovery following an initial rally, the whale’s strategic move showcased the potential for substantial gains in the crypto market. It is essential to note that the information provided is for educational purposes only, and readers are advised to conduct their own research and exercise caution before making any investment decisions.