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Close to Trillion PEPE Grabbed by Enthusiastic Whale After Losing Million in ETH on Big ARB Trade

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Sat, 4/11/2023 - 8:58
Close to Trillion PEPE Grabbed by Enthusiastic Whale After Losing Million in ETH on Big ARB Trade
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Blockchain sleuth that tracks on-chain data of "smart money" wallets @lookonchain has reported that an unknown wallet spent $1.11 million on acquiring almost 1 billion PEPE meme coins over the past two days.

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Prior to that, he has had several trades with ARB and positive ones with MKR.

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Buying billion PEPE after losing million USD on ARB

The X post from @lookonchain shows that the aforementioned whale spent 617 ETH to buy 996 billion PEPE. However, this year, he has lost 456 ETH (worth $1.3 million) trading ARB and earned a profit of 269 ETH (approximately $423,000) trading MKR.

Lookonchain has also shared details of the whale's ARB and MKR trades. He paid 2,039 ETH (worth nearly $4 million) to acquire 3.26 million ARB at a price of $1.5. After that, the whale trader sold this ARB for 1,583 ETH (equal to $2.45 million) at $0.75, thus facing a loss of 456 ETH — that is $1.3 million.

As for his MKR trading, this wallet owner bought 1,184 MKR, paying 1,348 ETH (worth $2.19 million) at a price of $1,164. A sale of MKR followed as he disposed of it for 1,617 ETH (evaluated at $2.61 million) and earned 269 ETH — that is $423,000.

At the time of this writing, PEPE meme coin is changing hands at $0.000001085, according to data shared by CoinMarketCap, after a 6.46% rise in the last 24 hours.

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