Trader Nets $46 Million from Pepe as It Hits New Highs

Learn how a small investment exploded into a multimillion-dollar fortune as PEPE hit a new all-time high. Explore the full story in our feature article.

Kieth Rean Garcia

Kieth Rean Garcia

May 15, 2024 1:39 PM

Trader Nets $46 Million from Pepe Meme Coin as It Hits New Highs
Categories: CryptoTraders

In this article, we delve into the remarkable story of a cryptocurrency trader who turned a modest investment into a whopping $46 million fortune, thanks to the meme coin Pepe (PEPE), which recently soared to new all-time highs.

The Initial Investment

On April 15, 2023, a savvy trader made an investment of less than $3,000 in Pepe (PEPE), purchasing a total of 4.9 trillion tokens. The funds for this investment were sourced by selling $2,256 worth of Timeless (LIT), $210 worth of Ethereum (ETH), and 500 USDC. This move set the stage for an extraordinary financial windfall.

Skyrocketing Profits

Within a year, the value of PEPE surged, marking a staggering 15,718-fold increase in the initial investment. The trader has already cashed out 1.41 trillion PEPE tokens, raking in $7.4 million. As of the latest data, the trader still holds about 3.5 trillion PEPE tokens, estimated to be worth approximately $38.9 million.

Current Market Performance

PEPE achieved a new all-time high earlier today, with a price peak at $0.00001145. The coin is currently trading at $0.00001142, reflecting a 12.1% increase over the past 24 hours. With a market capitalization of $4.8 billion, PEPE is now ranked as the 23rd largest crypto asset.

Trading Volume and Whale Activity

The trading volume for Pepe has also seen a significant uptick, with a 76% increase in the last day alone, totaling $3.85 billion. Notably, whale transactions—those exceeding $100,000—have surged in the past 48 hours. Despite this, data from Santiment indicates a slight decrease in such large transactions, from 706 to 698, in the last 24 hours.

This remarkable profit story, resulting from a minimal initial investment in the PEPE meme coin, underscores the high-reward opportunities present in the crypto market. As PEPE reaches new heights, it captures the attention of both experienced and novice investors alike.

Kieth Rean Garcia
Article By

Kieth Rean Garcia

Kieth is an Article Writer, Digital Nomad, Web3 Enthusiast, and NFT Gamer, currently based in the Philippines. Actively involved in the blockchain space for 3 years, his work spans across writing and exploring the potentials of Web3 and NFTs.

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