An early investor in one of the top 30 memecoins by market cap made headlines when he converted a few hundred dollars into millions in just over a year.
The remarkable feat highlights the potential for lucrative returns in the volatile world of cryptocurrency.
According to Lookonchain, an investor known for tracking major changes in the blockchain, individuals acquired a large number of Pepe tokens shortly after the Pepe (PEPE) token was listed.
Learn how early investments in memecoins like PEPE can generate extraordinary returns, and get the latest trends and insights in the cryptocurrency market.
What are the highlights of PEPE coin?
According to Lookonchain, an investor known for tracking major changes in the blockchain, an individual acquired a large number of Pepe tokens shortly after the Pepe (PEPE) token was listed. The investor sold 42 billion PEPE tokens on July 7, 2023, followed by 100 billion tokens on May 4, and finally sold the remaining tokens on May 22, realizing a jaw-dropping profit of 735,831%. An early PEPE buyer deposited a total of 182.9 billion PEPE (worth $2.53 million) to Binance in a short period of time. This person initially spent 0.22 Ethereum ($462) on April 15, 2023 to buy 324.9 billion PEPE and sold them for $3.4 million, realizing a staggering 7,368 times return on investment.
How is the other trader performing?
Lookonchain also reported another trader who bought trillions of PEPE between April 14 and April 23, 2023, and currently holds them, realizing a staggering profit of over 95,000,000%. This trader turned $83 into $79.4 million by buying and holding PEPE, earning a 958,580x gain. In addition, three wallets, likely owned by the same person, spent 0.041 Ethereum ($83) to buy 6.44 trillion PEPE (worth $79.4 million), but did not sell any of them, indicating great confidence in the potential of the token.
What about institutional investment?
Lookonchain also revealed that BlockTower Capital, a well-known cryptocurrency investment company, managed to make more than 20% profit after selling some PEPE on the institutional trading platform Cumberland. After the price of PEPE soared above $0.000014, the company transferred 202 billion PEPE (worth $2.8 million) for sale, earning $578,000 in just six days, a return rate of 26%.
Key takeaways for investors
– Getting into promising cryptocurrencies early can yield extraordinary returns.
– Even in turbulent markets, holding on to your investments has the potential to generate significant gains.
– Institutional investors are also leveraging memecoins, indicating their growing acceptance.
– Monitoring blockchain data can provide insights into profitable investment opportunities.
Current PEPE coin status
PEPE Coin has attracted the attention of the entire market after setting new all-time highs several times. Currently, PEPE is trading at $0.0000136, up more than 1%. During this period, PEPE's market value exceeded $5 billion, although its 24-hour trading volume remained slightly above $3 billion after a 18% drop, reflecting a decline in market interest.
in conclusion
The significant gains achieved by early PEPE investors highlight the potential for impressive returns in the cryptocurrency market. By closely monitoring blockchain data and understanding market trends, investors can identify promising opportunities. However, it is important to keep in mind the inherent volatility and risks associated with cryptocurrency investments.
