The popular meme coin $PEPE hit a new all-time high yesterday, pushing all addresses into profit territory before experiencing a minor 3% decline today.
Operating as an ERC-20 token on the Ethereum blockchain, $PEPE employs a redistribution system that rewards long-term stakers, incentivizing commitment to the project.
This recent surge has significantly benefited large holders. On-chain reports reveal that a whale has made an impressive $13.67 million (+875%) from $PEPE in just three months.
Between December 1, 2023, and February 12, 2024, this whale invested $1.56 million to acquire 1.40 trillion $PEPE.
Just 14 hours ago, the whale sold 140.4 billion $PEPE for $1.57 million in DAI at $PEPE’s new ATH, effectively recovering their initial investment. The whale still retains 1.26 trillion $PEPE, valued at $13.7 million, representing pure profit.
Another significant winner in the $PEPE frenzy sold 255 billion $PEPE for $2.3 million in profits following the coin’s price increase. This investor initially spent a mere $3,000 to purchase 4.9 trillion $PEPE, currently worth $56 million, on April 15, 2023.
Since then, they have sold 1.41 trillion $PEPE for $7.4 million, with 3.5 trillion $PEPE, valued at $38.9 million, still in their possession.
This transaction has resulted in a staggering total profit of approximately $46.3 million, marking a gain of 15,718 times their original investment.
The $PEPE token’s recent performance underscores the potential for significant gains in the volatile world of meme coins. As $PEPE continues to attract attention and investors, its innovative reward system and the substantial profits realized by early adopters are likely to fuel further interest and speculation in the market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…
The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…
In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…
The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…
The launch of $ELIZA, a token introduced by Andreessen Horowitz (a16z) partner @shawmakesmagic, has sparked…
Cardano ($ADA) has been making waves in the crypto market, breaking away from the altcoin…