$PEPE
Trader makes $1.77 million profit on PEPE investmentsAccording to CryptoPotato, a trader who bought 170.2 PEPE coins last October sold them for $1.97 million on July 25, making a profit of $1.77 million. This apparent return on investment (ROI) of 886% shows the potential for high profits in the volatility of the meme coin market. The trader executed the sale in two steps, first exchanging 100 billion PEPE for 1.16 million USDC USDC, then swapping the remaining tokens for $812,000 worth of stablecoins. While some observers praised the timing of the sale, others said the profit could have been higher if the trader had paid two months ago, when the price of PEPE was as high as $0.00001699. According to CoinGecko data, PEPE is currently trading at $0.00001171, representing a 30% drop from its all-time high. PEPE Trader isn’t the only one making big profits from meme coins. Another trader, who bought over 48 billion SHIB tokens worth $2700 infor 2 ETH in January 2021, sold them for over 280 ETH worth $1.2 million in May of this year. Furthermore, a trader who spends $310 to collect up to 2.5 million dogwifhat (WIF) coins by the end of 2023 could earn over 6 million if they choose to withdraw them. Despite the high profit potential, investing in meme coins carries significant risks due to their well-known and often questionable volatility. These properties are often subject to special conditions that could eventually collapse and result in significant financial losses. Potential investors are advised to do their due diligence and only invest with enough money to break even.
