A crypto enthusiast, operating under anonymity, made a substantial investment in 996 billion PEPE meme coins. This acquisition comes on the heels of significant losses incurred in ARB trades, amounting to over a million USD.
@lookonchain, a blockchain sleuth that monitors the on-chain activities of “Smart Money” wallets, reported this whale’s notable investment of $1.11 million in nearly one billion PEPE coins over the past two days.
Losses in ARB and Gains with MKR
The anonymous whale’s recent acquisition of 996 billion PEPE came after a series of trades that included losses in ARB and profits in MKR. This year, the trader experienced a loss of 456 ETH, equivalent to $1.3 million, while engaging in ARB trading. Conversely, the trader generated a profit of 269 ETH, approximately $423,000, from MKR trading.
The whale’s ARB trades involved an expenditure of 2,039 ETH, valued at nearly $4 million, to obtain 3.26 million ARB for $1.5. Subsequently, the trader sold this ARB for 1,583 ETH, equivalent to $2.45 million, at a rate of $0.75, resulting in a loss of 456 ETH, equivalent to $1.3 million.
This whale has also traded 2 tokens this year.
— Lookonchain (@lookonchain) November 3, 2023
The whale’s MKR trades included the purchase of 1,184 MRK. This acquisition was executed with 1,348 ETH, valued at $2.19 million, for $1,164. Following this, the trader sold MKR for 1,617 ETH, amounting to $2.61 million, earning a profit of 269 ETH, or $423,000.
As of the latest update, the PEPE meme coin is being traded at $0.000001085, based on data provided by CoinMarketCap. It has experienced a 6.46% increase in value within the last 24 hours.