coinspress.com
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.