Anonymous traders make $46 million in profits through PEPE

According to CryptoPotato, an anonymous trader made a profit of $46 million in one year by trading PEPE, equivalent to a 15,718-fold return.

According to Lookonchain data, the trader bought 4.9 trillion PEPE tokens on April 15, 2023, which cost less than $3,000 at the time and are now worth $56 million. He sold another 255 billion PEPE (worth $2.3 million) for a profit after the PEPE price rose. He still owns 3.5 trillion PEPE tokens, which are currently worth about $38.9 million. This coincides with the time when PEPE reached a new all-time high of $0.00001151 on May 15.

PEPE is currently trading at $0.00001101, up 5.8% in the past 24 hours, according to CoinGecko. The meme coin has a total market cap of $4.7 billion, making it the 27th largest cryptocurrency.

As PEPE’s price rises, data from SpotOnChain shows that whales and early investors in the meme coin are beginning to cash in profits as it reaches its all-time high.