On-chain monitoring platform Lookonchain has detected a whale address awakening from a year-long slumber. The address spent 5,000 SOL (worth approximately $358,000 at current prices) to acquire 243 million PUMP tokens, marking its first major trade since going dormant.
Blockchain records reveal that over a year ago, the same whale purchased 10,957 SOL at an average price of $237 per token, spending roughly $2.6 million. The entire SOL position was then staked. Although the wallet accumulated 1,206 SOL in staking rewards during the dormant period, the total portfolio remains in a loss position given SOL's current market value. The decision to swap SOL for PUMP suggests the whale is attempting to rotate capital into a high-risk, high-reward meme token to recoup losses.
PUMP, a relatively new and highly volatile meme coin, could see significant short-term price action from such a large buy order. Traders are watching closely for potential profit-taking or further accumulation. As of press time, the whale address continues to hold a substantial amount of SOL and PUMP, leaving room for further moves.