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Smart money traders favor PEPE and FLOKI with over $50 million invested

Over $50 million in PEPE and FLOKI were accumulated by smart money traders over the last 7 days

Nansen data shows that the biggest PEPE and FLOKI buyer has almost 35% of his portfolio consisted of meme coins.

PEPE and FLOKI were the two preferred Ethereum-based meme coins from smart money traders in the last seven days, according to on-chain data platform Nansen. PEPE registered $48.8 million in smart money inflows in the period, while FLOKI got $4.3 million in investments.

The largest PEPE buyer in the past seven days is a “Smart DEX Trader”, which is a label created by Nansen to address the most profitable on-chain traders. He holds over $1.2 million in PEPE at the time of writing, which represents 15% of his holdings.

Moreover, he made the largest FLOKI buy of the past week, adding $1 million to his portfolio. The wallet also holds Shiba Inu (SHIB), nearing $700,000 of this meme coin. Those three tokens represent almost 35% of this trader’s portfolio.

Buys from the biggest PEPE and FLOKI investor. Image: Nansen

Another address labeled as a Smart DEX Trader also accumulated over $1.2 million in the same period, which is 5.6% of his portfolio. This address also holds $1.7 million of the DEGEN meme coin, which amounts to 13% of his holdings.

Aside from smart money, wallets created in 1000 days or less have accumulated over $1.1 billion in PEPE, while FLOKI received $129 million in investments for the past seven days.

Furthermore, it seems that the meme coin fever is gearing up again. Solana, the most popular ecosystem for meme coin launches, registered a new daily all-time high for new tokens on May 4, with 14,648 tokens launched that day.

SOURCE

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