Largest $MEME Holder Keeps Buying Despite Deep Losses One trader is not taking no for an answer when it comes to @memecoin. According to on-chain analytics platform Lookonchain, a single addr
One trader is not taking no for an answer when it comes to @memecoin. According to on-chain analytics platform Lookonchain, a single address has spent $1.22 million over the past month steadily accumulating $MEME, purchasing 30.65 million tokens and becoming the largest holder of the asset.
The trader's unrealized loss on their $MEME holdings now stands at approximately $708,000, representing a loss of around 58%. That is a significant drawdown by any measure, yet it has done little to slow the buying. On-chain data shows the trader was still purchasing $MEME as recently as 10 hours ago, maintaining an aggressive accumulation strategy amid declining prices.
The behaviour raises obvious questions. Doubling down on a position that has lost more than half its value runs counter to conventional risk management, but it is not unheard of in crypto markets, where some participants use sharp drawdowns as opportunities to lower their average entry price, a strategy sometimes called dollar-cost averaging into conviction.
$MEME was trading around $0.000623 on October 6, 2026, down sharply from its one-year price of $0.002448 recorded on the same date in 2025.The token's all-time high was set in November 2023 at $0.08158, leaving it more than 99% below that peak.
Whether this trader has information the broader market does not, or is simply committed to a long-term thesis on $MEME, remains to be seen. What is clear is that the position size and persistence make this one of the more closely watched wallets in the Memecoin ecosystem right now.
Sources:KuCoin News: Trader Spends $1.22M on MEME Tokens, Suffers $708K LossPhemex: Largest $MEME Holder Adds to Position Despite $708K LossCoinMarketCap: Memecoin (MEME) Price
