Date: Thu, August 29, 2024, 08:40 AM GMT
In a bold move reflecting growing confidence in memecoins, a prominent Pepe (PEPE) holder has just made a significant reinvestment. $PEPE the Ethereum-based meme coin, which has surged over 11,893% from its all-time low (ATL), continues to attract attention from high-profile investors.
According to Lookonchain, a trader who previously saw their $200K investment in PEPE balloon to $1.97 million (+886% profit) has now spent $1.34 million USDC to acquire an additional 173 billion PEPE tokens. This decision highlights the traderâs strong belief in the coin's future potential.
The initial investment was made on October 25, 2023, when the trader bought 170 billion PEPE tokens for $200,000 USDC. After holding these tokens for about nine months, they sold them on July 25, 2024, for $1.97 million USDC, realizing a hefty profit of $1.77 million.
Currently, PEPE is trading at $0.000007822, showing a 2.45% increase in the past 24 hours. The coinâs market cap stands at $3.29 billion, underscoring its substantial presence in the crypto space.
This major reinvestment by a successful PEPE holder could signal ongoing optimism and potential for further gains.
