According to a Blockchain investigator tracking on-chain data for the “Smart Money” wallet @lookonchain, an unknown wallet has spent $1.11 million to acquire nearly a billion meme tokens in the past two days. Prior to this, the wallet had several profitable trades, including one involving ARB and another with MKR.
The purchase of a billion PEPE tokens came after losing $1 million in the ARB trade. A post from @lookonchain reveals that the aforementioned whale spent 617 Ethereum to purchase 996 billion PEPE tokens. However, the whale has incurred a loss of 456 Ethereum (worth $1.3 million) from ARB trading and gained a profit of 269 Ethereum (approximately $423,000) from MKR trading this year.
Lookonchain also shared details of the whale’s ARB and MKR trades. The whale paid 2039 ETH (worth around $4 million) to acquire 3.26 million ARB tokens at a price of $1.5. Subsequently, the whale sold ARB for 1,583 Ethereum (equivalent to $2.45 million) at a price of $0.75, resulting in a loss of 456 Ethereum or $1.3 million.
Regarding the MKR trade, the wallet owner bought 1,184 MKR and paid 1,348 ETH (worth $2.19 million) at a price of $1,164. It was followed by the sale of MKR, where they disposed of it for 1617 Ethereum (estimated at $2.61 million) and obtained 269 Ethereum or $423,000 in profit.
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