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Ethereum Whales Convert Millions of Dollars in ETH to Shiba Inu (SHIB) Competitor: On-Chain Data


Ethereum whales are joining the latest memecoin craze by dumping millions of dollars of their ETH into Pepe (PEPE), a coin that is now up over 5000% in recent weeks.

According to blockchain tracker Lookonchain, an Ethereum whale spent almost $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 last two days, with an average purchase price of $ 0.000003122.

You have lost ~$541,000 at the current price!”

Fountain: Lookonchain/Twitter

A separate entity spotted by Lookonchain has been even more aggressive and currently owns $14.4 million worth of PEPE.

“This whale is crazy!

Bought a total of 760.6B $PEPE with 1,128 ETH ($2.17 million) at a price of $0.000002859…

And it currently owns 4.56 billion PEPE (currently $14.4 million)”.

Fountain: Lookonchain/Twitter

During PEPE’s heyday, Lookonchain spotted several wallets turning small amounts into fortunes, including one address that tried its hand at many memecoins.

“One SmartMoney bought 4 billion 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.

SmartMoney discovered PEPE and spent 2.1 ETH ($4,410) to buy four trillion PEPE six hours after PEPE was listed.

After each price increase in PEPE, you sold part of PEPE instead of selling all of it.

He sold a total of 3.27 billion PEPEs for $906,000 and currently owns 700 billion PEPEs worth $808,000.”

Source: lookonchain/Twitter

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