Ethereum Whales Swap Millions in ETH for PEPE
Ethereum whales have entered the current mem ecoin frenzy by investing millions of dollars worth of ETH into Pepe (PEPE), a coin that has surged over 5,000% in recent weeks.
According to Lookonchain, a blockchain tracker, an Ethereum whale purchased nearly $3 million worth of PEPE using Wrapped Bitcoin (WBTC) and ETH.
The whale bought 962.3 billion PEPE (currently valued at $2.46 million) with 70 WBTC ($2.07 million) and 470 ETH ($937,000) over the past two days. The average buying price was $0.000003122.
At the current price, the whale has lost approximately $541,000.
Lookonchain also identified another entity holding $14.4 million worth of PEPE, which is considered quite aggressive.
This particular investor bought a total of 760.6 billion PEPE with 1,128 ETH ($2.17 million) at a price of $0.000002859 and currently holds 4.56 trillion PEPE ($14.4 million).
During the rise of PEPE, Lookonchain noticed several wallets that turned small amounts into significant fortunes, including one address that experimented with various meme coins.
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A SmartMoney investor bought 4 trillion PEPE for 2.1 ETH ($4,410) and made approximately $1.71 million. They also engaged in trading multiple MEME coins.
The SmartMoney investor discovered PEPE shortly after it was listed and spent 2.1 ETH ($4,410) to acquire four trillion PEPE just six hours later.
Instead of selling all of their holdings, they sold a total of 3.27 trillion PEPE for $906,000 and currently possess 700 billion PEPE worth $808,000.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
