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Following
MEME The largest MEME holder continues to buy, ignoring huge losses
When faced with @memecoin, a trader did not give up easily. According to Lookonchain, an online data analysis platform, in the past month, a single address has spent US$1.22 million to steadily accumulate $MEME tokens and purchased 30.65 million tokens, becoming the largest holder of the asset.
Currently, the trader's unrealized loss of $MEME is approximately US$708,000, a decrease of approximately 58%. By any measure, this is a significant retracement, but it has not slowed the pace of its buying. On-chain data showed that the trader was still buying $MEME 10 hours earlier, maintaining an aggressive accumulation strategy during the price decline.
What drives this confidence?
This behavior raises obvious questions. Adding additional weight to a position that has lost more than half its value violates traditional risk management principles, but it is not uncommon in the cryptocurrency market. Some participants use large retracements as an opportunity to lower the average entry price, a strategy sometimes referred to as "dollar-cost averaging into conviction."
On October 6, 2026, the trading price of $MEME was approximately US$0.000623, a significant decrease from the one-year price of US$0.002448 recorded on the same day in 2025. The historical high for the token is set in November 2023 at $0.08158, making it more than 99% below its peak.
It remains to be seen whether this trader has information that the rest of the market does not have, or whether he is simply firm on $MEME's long-term arguments. But what is certain is that due to the size of the position and its persistence, this has become one of the most watched wallets in the current Memecoin ecosystem.
