- A Crypto trader made a 24,656x return trading PEPE tokens.
- After recording a new ATH, Pepe coin is now trading at $0.00002537.
As the crypto market reaffirms its nature of unpredictability and volatility, several astonishing on-chain activities are coming into light. While Bitcoin reached a new ATH, it didn’t take long for it to fall to the $95,000 price range. Following the suit, altcoins have also witnessed mixed price signals so far. Meanwhile, several crypto whales and long-term investors are leveraging the market prices to make big profits.
Turning $3K into $73M, a 24,656x return, what a legend!
— Lookonchain (@lookonchain) December 10, 2024
Before the market plummeted, $PEPE broke through $0.000028, setting a new #ATH!
This legendary trader sold another 100B $PEPE($2.8M) for profit.
This trader invested ~$3K to buy 4.91T $PEPE on Apr 15, 2023.
Over time, he… pic.twitter.com/Z46fT8dbiY
As per on-chain analytics platform, Lookonchain, a trader made a staggering profit of $73 million since last year. He invested around $3,000 to buy 4.91 trillion PEPE tokens in April last year. Instead of panic selling or giving in to greed, the trader made an intelligent move by selling PEPE over time at different prices.
Overall, he cashed out 3.03 trillion PepeCoins for $27.5 million and still holds 1.88 trillion PEPE which is worth $45.66 million. Based on the most recent transaction, the trader sold 100 billion PEPE tokens, bagging in $2.8 million. The total profits, realized and unrealized, amounts to $73 million as of today.
The fact that the legendary trader still holds 1.88 trillion Pepecoins indicates the possibility of selling some more when PEPE reaches new ATHs. The last transaction was made as PEPE reached a new ATH of $0.00002748 on Dec 9.
Whales Accumulate PEPE as the Token Surpass $10 Billion Market Cap
As the broader crypto market is making records, PepeCoin is also witnessing a surge of interest from investors. The memecoin has recently surpassed the $10 billion market capitalization. As a result, it is positioned as the third-largest memecoin by market cap.
In line with the broader crypto market, PepeCoin also recorded a price plunge and went to as low as $0.00002247. However, the price seems to recover with a 3% rise and PEPE is trading at $0.00002582 at press time. With the hopes of further price surge, several whales are accumulating PepeCoins.
Around 9 crypto wallets purchased 555 billion PEPE tokens in the past 4 hours. All the wallets are likely to belong to one single whale as all of them spent 13.8 million DAI combinedly to buy the PEPE. This whale accumulation, increasing investor sentiment in PepeCoin, combined with its staggering rise to the top 3rd position might indicate a much bigger price surge for PepeCoin.
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