- Solana whale sparked controversy with 314M BOME purchase ahead of listing.
- Previously, Binance launched an insider trading investigation for Book Of Meme.
- The whale confesses on Twitter, explaining there were no fraudulent intentions.
A few weeks ago, the ongoing memecoin season showed its dark side when Book Of Meme (BOME) was listed on Binance and almost instantly accused of insider trading. On March 15, 2024, a crypto whale was seen withdrawing $2.3 million from Binance, later using these funds to acquire a whopping 314 million of BOME hours ahead of Binance’s listing.
Spotted by blockchain tracking agency LookOnChain, this transfer immediately raised eyebrows, with many crypto traders pointing their fingers at Binance. In response, the crypto giant started an investigation with a huge bounty, offering from $100K to $5M in rewards for information about insider trading.
While Binance’s ‘Rat House’ investigation returned no tangible results, these accusations are refuted by the crypto whale himself, as Solana’s prominent community member BazingaHappy.SOL confessed to the public on X.
Since Book Of Meme’s inception, the memecoin soared by a whopping 22,472% from an all-time low recorded at $0.00005848 on March 14, 2024. This parabolic bull run peaked on March 16, 2024, at $0.02689, as BOME slipped over 50% since the price milestone.
Binance Rat House Scandal Debunked: Whale Explains Purchase
The Solana whale acquired 314 million tokens at $0.0074 in half an hour in the afternoon on March 15, 2024. “Does He know something we don’t?” asked the on-chain sleuths at LookOnChain, inspiring Binance to start the ‘Rat House’ investigation a few days further.
BazingaHappy.SOL remarked that he believed the token had huge potential, alluding to the rise of Shiba Inu (SHIB) in 2021.
BazingaHappy.SOL explains: “I didn’t expect that after I bought it at around 10 o’clock that night, BOME would be on Binance the next morning.” On top of that, the Solana whale went as far as to say: “In my opinion, BOME is the leader of memecoins, and in the future it will surpass DOGE.” The trader finished his courageous post by pledging to contribute to BOME’s worldwide adoption.
On the Flipside
- Despite drawing similarities to Shiba Inu’s (SHIB) emergence in 2021, the crypto trader also regretted not selling BOME: ”I did not sell, so it fell in the past few days. Afterwards, my friends laughed at me. However, no one is a market prophet.”
Why This Matters
While memecoins tend to fluctuate highly in price, popular meme currencies foster crypto adoption due to their mass appeal.
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