Blockchain tracking firm Lookonchain has spotted two sizeable traders capitulating on their memecoin positions as the digital assets market continues to correct.
The firm says one trader with a seven-figure position capitulated on his Pepe (PEPE) holdings after holding for just over one month.
“This PEPE trader capitulated and sold all 114.7 billion PEPE for 366.5 ETH ($1.27 million) at a breakeven price.
He bought 114.7 billion PEPE ($1.27 million) at $0.000011 on May 14th and May 15th.
The price of PEPE broke through $0.000017 on May 27th, at which time his profit was $670,000 (+50%), but he did not sell for profit.
Then PEPE began to fall all the way and fell below its breakeven point.
Finally, he capitulated and sold all PEPE.”
Source: Lookonchain/X
Over on the Solana (SOL) network, Lookonchain saw a whale offloading over $1 million in Beercoin (BEER), a memecoin dedicated to beer enthusiasts.
According to Lookonchain, the whale still has over $800,000 worth of BEE
We współpracy z: https://dailyhodl.com/2024/06/17/memecoin-traders-capitulate-as-crypto-market-forms-downturn-on-chain-data/
