An early investor in one of the top 30 meme coins by market value has made headlines by transforming a few hundred dollars into millions within just over a year. This remarkable feat underscores the potential for significant returns in the volatile world of cryptocurrency.
What are the PEPE Coin Highlights?
According to data from Lookonchain, an investor known for tracking major blockchain changes, an individual acquired a large amount of Pepe (PEPE) coin soon after it hit the market. The investor sold 42 billion PEPE tokens on July 7, 2023, followed by 100 billion on May 4 and finally the remaining tokens on May 22, achieving an eye-watering profit of 735,831%.
An early PEPE buyer deposited a total of 182.9 billion PEPE (valued at $2.53 million) to Binance within a short span. This person initially spent 0.22 Ethereum ($462) on April 15, 2023, to purchase 324.9 billion PEPE and sold them for $3.4 million, realizing a staggering 7,368x return on investment.
How Did Another Trader Perform?
Lookonchain also reported on another trader who purchased trillions of PEPE between April 14 and April 23, 2023, and is currently holding them, achieving an astounding profit of over 95,000,000%. This trader turned a mere $83 into $79.4 million by buying and holding PEPE, achieving a 958,580x gain.
Additionally, three wallets, likely owned by the same person, spent 0.041 Ethereum ($83) to buy 6.44 trillion PEPE (valued at $79.4 million) without selling any, demonstrating extreme confidence in the coin’s potential.
What About Institutional Investments?
Lookonchain also revealed that BlockTower Capital, a notable cryptocurrency investment firm, managed to earn over 20% profit after selling some PEPE on the institutional trading platform Cumberland. The firm transferred 202 billion PEPE (worth $2.8 million) for sale after PEPE prices surged past $0.000014, earning $578,000 in just six days for a 26% return.
Key Takeaways for Investors
– Early entry into promising cryptocurrencies can yield extraordinary returns.
– Holding investments, even in volatile markets, can potentially lead to significant gains.
– Institutional investors are also capitalizing on meme coins, indicating their growing acceptance.
– Monitoring blockchain data can provide insights into profitable investment opportunities.
Current PEPE Coin Status
PEPE Coin has garnered market-wide attention following multiple all-time highs. At present, PEPE is trading at $0.0000136, up over 1%. During this period, PEPE’s market cap surpassed $5 billion, although its 24-hour trading volume remains just above $3 billion after an 18% drop, reflecting a decline in market interest.
