- Lookonchain revealed that a whale spent $1.11 million to purchase 996 billion PEPE
- The purchase comes after PEPE’s price dropped over 7% in the past 24 hours.
- Technical indicators on PEPE’s daily chart suggest that its price may drop in the next few days.
Lookonchain, the on-chain tracking platform, revealed in an X post today that a whale spent more than $1 million to purchase a substantial amount of Pepe (PEPE). According to the post, this whale spent 617 Ethereum (ETH), worth $1.11 million, to purchase 996 billion PEPE over the past 2 days.
A whale spent 617 $ETH($1.11M) in the past 2 days to buy 996B $PEPE.This whale has also traded 2 tokens this year.
Lost 456 $ETH ($1.3M) on $ARB and made 269 $ETH ($423K) on $MKR.https://t.co/H1UddPZlGe pic.twitter.com/oZgDZYScSH
— Lookonchain (@lookonchain) November 3, 2023
The post also revealed two large trades executed by the same whale prior to this PEPE purchase. On-chain data reveals that the whale seemingly lost 465 ETH, valued at $1.3 million, on Arbitrum (ARB). The whale was, however, able to recover some of the losses with a Maker (MKR) trade that resulted in a $423K profit.
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