Blockchain tracking firm Lookonchain has spotted two sizeable traders capitulating on their memecoin positions as the digital assets market continues to correct.<\/p>\n
The firm says one trader with a seven-figure position capitulated on his Pepe (PEPE<\/a>) holdings after holding for just over one month.<\/p>\n \u201cThis PEPE trader capitulated and sold all 114.7 billion PEPE for 366.5 ETH ($1.27 million) at a breakeven price.<\/em><\/p>\n He bought 114.7 billion PEPE ($1.27 million) at $0.000011 on May 14th and May 15th.<\/em><\/p>\n 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.<\/em><\/p>\n Then PEPE began to fall all the way and fell below its breakeven point.<\/em><\/p>\n Finally, he capitulated and sold all PEPE.\u201d<\/em><\/p>\n Over on the Solana (SOL<\/a>) network, Lookonchain saw a whale offloading over $1 million in Beercoin (BEER<\/a>), a memecoin dedicated to beer enthusiasts.<\/p>\n According to Lookonchain, the whale still has over $800,000 worth of BEER left.<\/p>\n \u201cA BEER whale dumped 5 billion BEER for 7,450 SOL ($1.08 million) [on June 15th].<\/em><\/p>\n This whale received 8.89 billion BEER (1% of the total supply) from the BEER team allocation wallet \u20188VY4LF\u2026fDd5G2,\u2019 but this whale did not participate in the pre-sale.<\/em><\/p>\n And the whale currently has 3.76 billion BEER ($820,000) left.\u201d<\/em><\/p>\n At time of writing, BEER is trading at $0.000175, down significantly since the whale sold much of its position.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: DALLE3<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" 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. \u201cThis PEPE trader capitulated and sold all 114.7 billion PEPE for […]<\/p>\n","protected":false},"author":2,"featured_media":273959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-325120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/325120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=325120"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/325120\/revisions"}],"predecessor-version":[{"id":325124,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/325120\/revisions\/325124"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/273959"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=325120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=325120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=325120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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