Blockchain sleuth, which monitors “Smart Money” wallet on-chain data, @lookonchain, has revealed that within the previous two days, an unidentified wallet spent $1.11 million to purchase nearly one billion PEPE meme coins.
He had made a number of successful transactions with MKR and ARB before that.
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. But this year, he lost 456 ETH (about $1.3 million) selling ARB and made 269 ETH (about $423,000) trading MKR.
https://x.com/lookonchain/status/1720356173294260528?s=20
The whale’s ARB and MKR trade information have also been disclosed 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 ARB trade, the owner of this wallet paid 1,348 ETH (worth $2.19 million) at a price of $1,164 to purchase 1,184 MRK. He then sold MKR for 1,617 ETH, or $2.61 million, and made 269 ETH, or $423,000, on the transaction.
according of this writing, PEPE meme currency is trading at $0.000001085, according per CoinMarketCap data, following a 6.46% increase over the previous day.
