The smart money has been actively investing in several altcoins, including MKR, FTM, and PEPE:

FTM:

On May 7, he spent 726 ETH ($2.26M) to acquire 3.18M FTM.
Previously, he bought 3.39M FTM ($1.13M) at $0.33 on Jan 24 and sold it for $2.8M at $0.83 on Mar 19, making approximately $1.67M in profit.

MKR:

Just 3 hours ago, he spent $1.25M to purchase 464 MKR at $2,697.Additionally, on Apr 30, he spent 379 ETH ($1.22M) to buy 428 MKR at $2,846.

PEPE:

On May 8, he invested $558K to acquire 70B PEPE tokens.

Address: 0xd87666833ba1b370ac77f609696267ea8f30a727

It's evident that he's strategically diversifying his portfolio across multiple altcoins to maximize potential gains.