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