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<p>The price of PEPE has seen a recent correction after a significant rise from October 19 to 26, 2023. It has declined 14% in the past 7 days. However, big money continues to show confidence in PEPE amid this pullback, purchasing billions of the meme coin worth over $1 million in Ethereum in the past two days.</p>
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<p>According to crypto analyst <a href="https://twitter.com/lookonchain/status/1720356173294260528?s=20" target="_blank" rel="noopener noreferrer nofollow">LookOnChain</a>, a whale spent 617 ETH ($1.11 million) over the past two days to acquire 996 billion PEPE tokens. This whale trader has made some major cryptocurrency trades this year, losing big on one but profiting on another.</p>
<h2 class="wp-block-heading" id="whale-trader-lost-big-on-arb-but-won-on-mkr">Whale Trader Lost Big on ARB But Won on MKR</h2>
<p>Earlier in 2023, the same whale spent 2,039 ETH (around $3.75 million at the time) to purchase 3.26 million ARB tokens at $1.15 each. They later sold those tokens for 1,583 ETH (about $2.45 million) at $0.75 per token, losing 456 ETH ($1.3 million) in the trade.</p>
<p>The whale then bought 1,884 MKR tokens for 1,348 ETH ($2.19 million) at $1,164 each. They sold those tokens for 1,617 ETH ($2.61 million) at $1,389 per token, netting a profit of 269 ETH ($423,000).</p>
<p>Read also:</p>
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<h2 class="wp-block-heading" id="big-spend-on-pepe-could-signal-whale-s-confidence">Big Spend on PEPE Could Signal Whale’s Confidence</h2>
<p>Despite some major losses in ARB, the whale trader seems confident in the future of PEPE, spending over $1 million in Ethereum on billions of the <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> coin over just two days amid its recent dip. Their big bet on PEPE could signal broader confidence in the token among crypto’s biggest players.</p>
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<p>The post <a href="https://captainaltcoin.com/crypto-trader-spent-1-11-million-ethereum-eth-to-buy-this-meme-coin/" rel="noopener noreferrer nofollow">Crypto Trader Spent $1.11 Million Ethereum (ETH) to Buy This Meme Coin</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Trader Spent $1.11 Million Ethereum (ETH) to Buy This Meme Coin

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