Shiba inu

Ethereum Whale Quietly Accumulates Over $1,000,000 Worth of Shiba Inu (SHIB) Competitor: On-Chain Data

An Ethereum (ETH) whale has accumulated more than $1 million worth of the Shiba Inu (SHIB) memecoin competitor Pepe (PEPE) in the past month, according to the blockchain tracker Lookonchain.

Lookonchain notes that the pseudonymous trader OSF spent 141 ETH worth $261,000 to buy 173 billion PEPE earlier this week.

Since June 14th, the whale has spent a total of 536 ETH worth nearly $1.04 million to buy 613 billion PEPE.

Pepe is trading around $0.00000149 at time of writing and is down 0.4% in the past 24 hours. The volatile frog-themed memecoin is up 66.8% in the past month but down 65% from its all-time high of $0.00000431, which it hit on May 5th, only a few weeks after launching in mid-April.

Lookonchain also speculates that it’s possible couple of institutions may be buying up the native tokens of the decentralized finance (DeFi) stablecoin lending project Curve (CRV).

The blockchain tracker notes that four new wallets have withdrawn a total of 10.2M CRV worth $8.12 million from top crypto exchange Binance in the past seven days. The four wallets only hold CRV.

CRV is trading for $0.785 at time of writing. The 65th-ranked crypto asset by market cap is down 0.75% in the past 24 hours but up more than 1% in the past week.

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Featured Image: Shutterstock/klyaksun/WindAwake

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