-- An unknown major trader $PEPE
earned more than $61 million from $26 investments against the background of a jump in the memcoin exchange rate.
-- However, the address where the tokens are stored has been blocked by the developers.
-- This means that he cannot withdraw or sell these assets.
An unknown user earned about $61.5 million from the Pepe Coin (PEPE) #exchange rate jump, according to Lookonchain. In 24 hours, the asset's exchange rate increased by more than 76%.
Experts noted that the user purchased 2.52 trillion PEPE for 0.013 $ETH
(about $26 at that time) in April 2023. Against the background of the memcoin rally, the driver of which was the jump in the bitcoin exchange rate on November 13, this volume of tokens is now estimated at $61.5 million.
The price of PEPE has increased by 76.4% in the last 24 hours, according to CoinMarketCap. At the time of writing, memcoin is trading at $0.0000226.
It is noteworthy that the specified 2.52 trillion PEPE arrived at the user's address at the stage of the token's entry into the market. This may mean that he is associated with the project team or supported it.
Lookonchain experts pointed out that the address with memcoins is on the blacklist of developers. According to the publication, because of this, the holder cannot sell his assets.
This is not the first such case. In particular, in May 2023, on the Reddit site, users discussed blocking an address with PEPE for allegedly $ 4 million. A similar function was incorporated into the smart contract of the project.