On-chain analytics platform Lookonchain reported that a wallet believed to be linked to prominent trader dimethyltryptamine.eth has made a new move in the market. According to the report, the Solana wallet fent.sol purchased 5.66 million SPIKE tokens roughly five hours ago, putting the token back on traders’ radar.
A closely watched whale-linked address
The wallet fent.sol is believed to be associated with dimethyltryptamine.eth, a name that has attracted attention for highly profitable on-chain trades in the past. Because of that track record, any fresh activity tied to the address is often monitored closely by market participants. The report did not provide details such as the average purchase price, total cost basis, or the wallet’s broader strategy, but the size of the acquisition alone was enough to spark discussion.
Past PEPE trade built its reputation
Dimethyltryptamine.eth previously became well known for an early PEPE trade. The whale reportedly spent 0.125 ETH, worth about $251 at the time, to acquire 5.9 trillion PEPE. It later sold 3.94 trillion PEPE for around $5.74 million. The remaining 1.97 trillion PEPE holdings were valued at roughly $7.5 million, implying a return of more than 52,600x on the initial investment. That performance continues to shape how the market interprets its subsequent trades.
SPIKE buy draws renewed attention
The source material also showed that, at the time of publication, ETH was up 1.53%, PEPE had gained 2.05%, and SPIKE was down 3.19%. Against that backdrop, the purchase of SPIKE by a whale-linked wallet may be seen by some traders as a signal worth watching. Still, the currently available information only confirms the on-chain transaction and the reported wallet association, not the trader’s intent or any guaranteed market direction.
Overall, the 5.66 million SPIKE purchase has once again placed dimethyltryptamine.eth in the spotlight. While whale activity can offer useful market context, investors still need to evaluate token fundamentals, liquidity conditions, and broader risk factors before drawing conclusions from a single transaction.