According to @lookonchain, a blockchain detective that monitors the on-chain activity of “smart money” wallets, an unidentified wallet has spent $1.11 million in the last two days purchasing over 1 billion PEPE meme coins.
Buying billion PEPE after losing million USD on ARB
The aforementioned whale used 617 ETH to purchase 996 billion PEPE, according to the X post from @lookonchain. He has, however, lost 456 ETH (about $1.3 million) trading ARB this year and made a profit of 269 ETH (about $423,000) selling MKR.
The whale’s ARB and MKR trade information have also been made public by Lookonchain. At a price of $1.5, he purchased 3.26 million ARB for 2,039 ETH, or about $4 million. Following then, the whale trader lost 456 ETH, or $1.3 million, when they sold this ARB for 1,583 ETH, or $2.45 million, at $0.75.
Regarding his MKR trade, the owner of the wallet paid 1,348 ETH (worth $2.19 million) at a price of $1,164 to purchase 1,184 MKR. He then sold MKR for 1,617 ETH (worth an estimated $2.61 million), making 269 ETH, or $423,000, in the process.
PEPE meme currency is currently trading at $0.000001085, according per statistics released by CoinMarketCap, following a 6.46% increase over the previous day.
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