An anonymous trader has taken the cryptocurrency world by storm after making a jaw-dropping profit of $46 million with PEPE in just one year, achieving a mind-blowing 15,718x gain. This incredible success story has captured the attention of investors and enthusiasts alike, as the Solana-based meme coin continues to soar to new heights.
According to Lookonchain data, the trader initially purchased 4.9 trillion PEPE tokens for less than $3,000 on April 15, 2023. Fast forward to the present day, and those tokens are now valued at an impressive $56 million. The trader’s strategic move involved selling a portion of their holdings for $7.4 million, while still retaining ownership of 3.5 trillion PEPE tokens worth approximately $38.9 million.
The timing of this lucrative investment coincided with PEPE reaching a new all-time high of $0.00001151 on May 15. Currently trading at $0.00001101, PEPE has a total market capitalization of $4.7 billion, making it the 27th largest cryptocurrency in the market.
The trader’s success story is not the only one making headlines, as whales and early investors of PEPE have also been cashing in on the coin’s rally. SpotOnChain data reveals that these large holders have been taking profits as PEPE continues to surge in value.
One early investor, identified as 0x647, recently transferred 250 billion PEPE tokens to Binance, valued at $2.69 million. Despite selling a portion of their holdings, this investor still holds 42.4 billion PEPE, with an unrealized profit of $3.96 million. Another whale, known as 0xa4f, realized a 20.5% profit on their PEPE holdings within just three days of acquisition.
The surge in PEPE transactions involving whales worth at least $100,000 has been significant, with a 416% increase on May 14. However, recent data from Santiment shows a slight downturn in transactions over the past 24 hours.
As the meme coin craze continues to captivate the crypto community, the success of the anonymous trader and other early investors in PEPE serves as a testament to the potential gains that can be achieved in this volatile market. With the cryptocurrency landscape constantly evolving, stories like these highlight the opportunities and risks that come with investing in digital assets.
