A trader has kept buying MEME over the past month, spending about $1.22 million to accumulate 30.65 million tokens, according to on-chain tracker Lookonchain. The position has turned deeply negative, with the trader now showing an unrealized loss of roughly $708,000, equal to about 58% of the capital deployed.
Lookonchain said the wallet has become the largest holder of MEME during this buying stretch. The accumulation has not stopped despite the drawdown. The tracker noted that the trader was still adding to the position as recently as 10 hours ago.
The update points to a sustained one-month accumulation pattern rather than a one-off purchase. No other details about the trader’s identity were disclosed in the monitoring note cited by BlockBeats.
According to BlockBeats on Oct. 6, on-chain tracker Lookonchain said a trader has been continuously buying MEME over the past month, spending about $1.22 million to acquire 30.65 million MEME.
Lookonchain said the wallet has now become the largest holder of MEME. At current levels, the trader is sitting on an unrealized loss of about $708,000, or roughly 58%.
Despite the steep paper loss, the trader has not stopped accumulating. Lookonchain said the wallet was still increasing its MEME position 10 hours ago.
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