Ethereum whales are joining the latest memecoin craze by throwing in millions of dollars worth of their ETH into Pepe (PEPE), a coin now up over 5,000% in the last several weeks.
According to blockchain tracker Lookonchain, an Ethereum whale spent nearly $3 million on PEPE using Wrapped Bitcoin (WBTC) and ETH.
“A whale bought 962.3 billion PEPE($2.46 million currently) with 70 WBTC ($2.07 million) and 470 ETH ($937,000) in the past two days, with an average buying price of $0.000003122.
He has lost ~$541,000 at the current price!”
A separate entity spotted by Lookonchain has been even more aggressive, and currently holds $14.4 million worth of PEPE.
“This whale is crazy!
He bought a total of 760.6B $PEPE with 1,128 ETH ($2.17 million) at a price of $0.000002859…
And currently holds 4.56 trillion PEPE ($14.4 million currently).”
During the rise of PEPE, Lookonchain spotted several wallets turning small amounts into fortunes, including one address that tried its luck on many memecoins.
“A SmartMoney bought 4 trillion PEPE at a cost of 2.1 ETH ($4,410) and made approximately $1.71 million!
And this guy also traded a lot of MEME coins.
The SmartMoney discovered PEPE and spent 2.1 ETH ($4,410) to buy four trillion PEPE six hours after PEPE was listed.
After each price surge in PEPE, he sold part of PEPE instead of selling all of them.
He sold a total of 3.27 trillion PEPE for $906,000 and currently holds 700 billion PEPE worth $808,000.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
