BSC Meme coin experiences a sharp pullback, with whale addresses buying the dip to average down the cost

【Block Rhythm】 Recently, I’ve noticed that the fluctuations of Meme coins on the BSC chain are quite interesting. On January 5th, the price briefly surged to $0.153 in the early trading session, but then quickly plummeted, now stabilizing around $0.131. From the high point, it has retraced approximately 14.3%, with the overall market capitalization still at around $131 million.

From the holdings perspective, the average cost of the top 100 addresses is around $0.147, with the top 10 addresses having an even higher average cost of $0.168. This indicates that early buyers are under significant cost pressure.

Interestingly, the whale address ranked first in holdings has been aggressively buying in the $0.14 to $0.15 range recently, accumulating a total of 1.33 million tokens in 24 hours, pushing its holdings to $3.4 million, ranking in the top four in the holdings list. However, this whale’s cost basis is $0.24. At the current price, it is already at a paper loss of $1.51 million, with an unrealized loss of 44%. It seems they are averaging down, betting on a rebound.