As an experienced financial analyst, I find this story of the anonymous PEPE trader’s $46 million profit within one year absolutely intriguing. The strategy employed by this trader, buying a massive amount of PEPE with a relatively small investment and selling at the right time, is a classic example of high-risk, high-reward investing in cryptocurrencies.
A trader, whose identity remains undisclosed, has generated a substantial income of $46 million through investing in PEPE over the past year, representing a staggering return on investment of approximately 15,718 times the original amount.
As a researcher studying the cryptocurrency market, I’ve noticed an exciting development with the meme coin built on the Solana network. On May 15th, this digital asset reached a new peak price, marking a significant milestone in its growth.
The Trader’s Strategy
Based on Lookonchain’s information, a trader purchased approximately 4.9 trillion PEPE tokens, worth around $56 million as of now, on the 15th of April, 2023, at a cost under $3,000.
Earned more than $46M on $PEPE with only $3K, a gain of 15,718x!
This super big winner sold 255B $PEPE($2.3M) for profits again after the price of $PEPE increased.
On April 15, 2023, he invested a modest $3,000 in purchasing approximately 4.9 trillion $PEPE tokens, which were then valued at around $56 million. Subsequently, he sold around 1.41 trillion $PEPE tokens for a profit of roughly $7.4 million. Additionally, he held onto approximately 3.5 trillion tokens.
— Lookonchain (@lookonchain) May 15, 2024
The trader exchanged $2,276 worth of Timeless (LIT), $210 worth of Ethereum (ETH), and sold 500 US Dollar Coin (USDC) to acquire PEPE in this transaction.
A trader has disposed of 1.41 trillion PEPE tokens, equivalent to a value of around $7.4 million. Yet, they continue to hold 3.5 trillion PEPE tokens, which are estimated to be worth about $38.9 million at the time of reporting.
On May 15, PEPE reached a new peak price of $0.00001151, as indicated by CoinGecko’s data. In comparison to the previous day, this represents a 5.8% growth and PEPE is currently priced at $0.00001101. With a market capitalization of $4.7 billion, PEPE holds the 27th position among all cryptocurrencies.
On Monday, the influential figure behind the 2021 GameStop rally, recognized as Roaring Kitty, posted a cryptic image on platform X. Interpreting it as a sign of his imminent return, traders reacted enthusiastically, leading to a surge in meme coins’ prices. The most notable gainers included PEPE, Dogecoin (DOGE), Shiba Inu (SHIB), and Floki (FLOKI).
Whales Cash in on PEPE’s Rally
As I analyze the current market situation with PEPE, I’ve discovered some intriguing insights using SpotOnChain data. Specifically, I noticed that large holders, or whales, as well as early investors of the meme coin started to sell off their profits when PEPE hit its all-time high.
Whales have taken profits after the $PEPE price recorded a new ATH (24H)! Have you taken yours?
As an analyst, I would rephrase the given statement as follows:
2. Whale 0xa4f 123.7B…
— Spot On Chain (@spotonchain) May 14, 2024
A pioneering investor with the identifier 0x647 moved over 250 billion PEPE tokens, equivalent to a value of approximately $2.69 million, to the exchange Binance. This investor currently holds onto 42.4 billion PEPE, resulting in an estimated profit of around $3.96 million that has yet to be realized.
As a researcher studying cryptocurrency market trends, I came across the noteworthy transaction of a whale, identified by the wallet address 0xa4f. Within just three short days of acquiring PEPE tokens, this entity managed to secure a substantial 20.5% return on investment. Impressively, they decided to cash out, selling an impressive amount of 123.7 billion PEPE for a total profit of 1.31 million US Dollars.
Based on Santiment’s findings, there was a significant increase of approximately 416% in the number of PEPE transactions worth $100,000 or more on May 14, with a total of 697 such transactions occurring daily. However, more recent data from Santiment indicates a slight decrease, with only 698 such transactions taking place over the past 24 hours.
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2024-05-15 18:55