On December 9, the prices of the meme token Pepe (PEPE) reached a new all-time high, breaking $0.000028. One user made $73 million on the coin, noted analysts from Lookonchain.
Turning $3K into $73M, a 24,656x return, what a legend!
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 April 15, 2023.
Over time, he… pic.twitter.com/Z46fT8dbiY— Lookonchain (@lookonchain) December 10, 2024
On April 15, 2023, the trader invested $3000 to buy 4.91 trillion PEPE. Over time, he periodically sold the meme token, exchanging a total of 3.03 trillion PEPE for $27.5 million.
In the last transaction, 100 billion PEPE brought him $2.8 million.
He still has 1.88 trillion PEPE worth $45.66 million in his wallet. Total profit reaches $73 million, with an investment return of x24,656.
At the time of writing, the coin is trading at $0.00002502, according to CoinGecko.
One commenter on the tweet noted that for every story of million-dollar earnings on meme tokens, there are thousands of liquidation cases.
Wild gains in the meme sphere! But remember, for every PEPE millionaire story, thousands got rekt. Stay sharp, hunt smart, and never risk more than you can afford to lose in the wild west of crypto.
— WolfPack (@WolfPackProd23) December 10, 2024
“Stay alert, hunt smart, and never risk more than you can afford to lose in the wild west of cryptocurrency,” he added.
Recall that in mid-November, the meme token PEPE reached a record market capitalization of $9.9 billion. Whales made millions on the surge of meme coin prices.