A big whale bought $31,500 worth of $HEGE today, minutes after moving that amount in Solana from Coinbase to a private wallet. This investor now is the owner of 2.91 million $HEGE. And this transaction is far from unique. People with large sums of money to invest seem to be betting on a price jump of $HEGE.
On July 7th, another trader pumped $37.6K into HEGE, at a price of $ .022. And that wasn’t this traders first time: the wallet (HWK9xVGXpKVayPQ5ZAARrMr5RZZxM3Dpbbq5u6F6mdua) used in that purchase, acquired a total of $111.500 worth of $HEGE in the past month. That’s 5.45 million HEGE. And this wallet – with an unrealized profit of $62,600 – hasn’t sold any of its holdings. This person is clearly counting on something big.
Browse through dexscreener.com, and you’ll find more of these kind of transactions. On June 25th, someone purchased $27,000 worth of HEGE, and hasn’t sold any since. On June 4th, someone put $28,000 into HEGE, at a price of .004, and has been keeping onto that bag, even after the run up to .03. And if you set the filter to purchases over $10.000, instead of over $25.000, you’ll find many more traders that invested large sums of money into HEGE, and haven’t sold since, even with unrealized profits of over $10,000.
An important thing to note is that $HEGE is not a whale-dominated project. The amount of holders has been growing consistently since the projects inception, now three months ago. While $KENDU’s market cap dipped with 60% due to one large holder exiting his position, $HEGE has been responding quite well to big sales, due to it’s healthy market cap / liquidity ratio. For other investors, a dip due to a large sell seems to have been viewed as a good entry point. In the chart below, the holders on centralized exchanges – such as MEXC and Bitmart that recently added a $HEGE trading pair – are not included, as they are not made public
Back to the point of this post: why would people invest serious amounts of money into $HEGE? Usually it’s a sign that these traders expect a price run. You don’t get to own and invest these kind of sums by making stupid decisions. You’d burn through it quite quickly.
There are quite a few reasons why $HEGE can be a good play in the expected upcoming bull run. If past patterns hold, we are currently in the summer lull before the autumn start of the crypto bull run that has traditionally followed a Bitcoin halving event, like the halving this past spring.
In the bull run of 2020-2021, NFT’s were the popular narrative. Currently the expectation is that memecoins will be the narrative of the upcoming expected bull run, and the vehicle to which people who want to take financial advantage of this cycle will turn. Memecoins were already the most popular crypto narrative in the second quarter of 2024, accounting for 14.3% market share. And Solana memecoins are the dominant memecoins, due to low transaction fees and high transaction speed. This also caused Solana flipping BNB and becoming the fourth biggest crypto currency in terms of market capitalization.
Unique project, strong fundamentals
$HEGE is a unique project in the world of Solana memecoins. It’s the first story driven memecoin. As $Hege’s market cap grows, more chapters in the story of Hege the hedgehog, Hegena, and two other characters unlock. All the way up to $ 1B market cap, and possibly more, the community can follow the adventures of Hege and his quest for Hegena’s heart.
HEGE was created out of the wish of creating a safe haven for meme coin enthusiasts, and the frustration of the thousand-and-one rug pulls that plague the Solana network via platforms such as pump.fun. After a discussion about the state of the economy for normal people, market manipulation, and hedge funds, the idea for a hedgehog-themed memecoin was born: HEGE, a hedge-fund for the crypto-community. A hedgefund for the 99%, with a hedgehog-themed coin as its symbol.
Moreover, the last consolidation phase of $HEGE, in the band of 6-9 million market cap, lasted 37 days. Today is day 37 of $Hege’s current consolidation band of 10-15 million market cap (a price of 0,010 – 0,015). A look on the daily chart gives an indication that $HEGE is breaking out of it’s consolidation phase:
As said earlier, $HEGE was recently listed on top Tier-2 exchanges Bitmart and MEXC. This has opened the door to a lot of new liquidity. Bitmart and MEXC have a combined daily spot volume of $3 billion. Once $HEGE starts rising out of its current consolidation phase, a good amount of that liquidity can poor into this project.
$HEGE also has an active, growing community, dedicated to the success of this project. The uniqueness of this project makes people rally around it. Last month, a community marketing fund was filled with donations totalling 120.000 USD, in just two days. The community also regularly runs competitions and weekly giveaways to increase engagement. A community member even paid for a plane to fly over Hollywood and wider Los Angeles with a banner promoting $HEGE. The $HEGE Telegram Group has grown to around 6,000 members.
In line with the participatory and supportive culture of $HEGE, I’d invite anyone to add to and comment on the stats, analysis and charts in this post. If you are making an investment decision, do your own research as well, and do not invest more than you can afford to loose.
https://www.hegecoin.com/
DexScreener: https://dexscreener.com/solana/cjcu7cirhbhu4bdnplgaum1a6isp9ruhjmg36rjjrxnd
X: https://x.com/HegeCoin?t=CVps0PxincwQm5SgMrbGOQ&s=09
submitted by /u/D0LPH1N1
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