Frog-Themed Meme Coin FWOG Accumulates Whale Interest, Pushing Its Market Cap to an All-Time High of $350M

Whales purchased over $2.35 million worth of FWOG through a dollar-cost averaging strategy, swapping USDC, WIF, POPCAT, and SOL tokens.

Solana’s frog meme coin, FWOG, has seen a 21% surge in its price over the past 24 hours, hitting a new all-time high of $0.369.

Whales have been accumulating the meme coin, purchasing over $2.35 million worth of FWOG through a dollar-cost averaging strategy, swapping USDC, WIF, POPCAT, and SOL tokens. This whale activity, combined with the recent listing of FWOG on SolCex, a centralized exchange on the Solana network, has sparked renewed investor interest in the meme coin.

Among Solana’s top 25 meme coins, FWOG emerged as the best performer on Nov. 4, with its market cap reaching nearly three times that of Scroll, Ethereum Layer 2’s second-best performing meme coin.

Moreover, FWOG ranked second among the top 25 meme coins in October, with gains exceeding 262%, following only SPX6900.

However, the most significant factor contributing to the gains observed on Nov. 5 was whale accumulation, as reported by LeadTradingPro.

Whales purchased over $2.35 million in FWOG, using a dollar-cost averaging strategy, swapping USDC, WIF, POPCAT, and SOL tokens. When whales accumulate a particular asset, it usually leads to a price increase, attracting retail traders who aim to capitalize on short-term gains.

$FWOG hasn't even gone parabolic yet pic.twitter.com/0lOvpsMnkP

Meanwhile, the number of holders of the meme coin also rose, increasing by over 14% to reach 28,551 over the past week, despite the volatility and broader market downturn leading up to the U.S. presidential election.

Market commentator Shadow suggests that FWOG could see substantial growth if it breaks past a key channel trendline around the $0.35 to $0.36 range. As of press time, the meme coin had successfully breached this level, and if it manages to hold above it, the analyst expects it to reach a $500 million market cap.

Another analyst, TraderSZ, known for his Xenoverse projections, provided a more bullish outlook, suggesting that FWOG could eventually hit a $1 billion market cap if it clears the midline of its current trend channel. See below.

$FWOG update. once we smash above the mid line…then trend leg to 1 bil cap should begin

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