A single trader transformed an $83 investment into $79.4 million by strategically acquiring and holding 6.44 trillion PEPE tokens across three wallets.
The trader purchased the tokens on April 15, 2023, when PEPE was trading at $0.0000000658 per token.
Technical indicators, such as the MACD, suggest that the PEPE token’s bullish momentum has room to continue.
The PEPE token has defied expectations and reached new heights, achieving an all-time high and delivering remarkable returns to investors. One particularly savvy trader managed to turn a modest $83 investment into an astonishing $79.4 million, representing an incredible 958,580 times return on their initial investment.
Pepe Trader’s Calculated Moves Lead to Astronomical Gains
According to a comprehensive analysis conducted by blockchain analytics firm Lookonchain, the trader in question managed three interconnected wallets, which collectively purchased approximately 6.44 trillion PEPE tokens using a mere 0.041 ETH, equivalent to $83.
The trader’s strategy was characterized by unwavering patience, choosing to hold the entire balance without selling any tokens as PEPE’s value experienced a meteoric rise.
The transactions that laid the foundation for this extraordinary growth took place on April 15, 2023, spanning three separate wallets controlled by the same individual. The first wallet initiated a transaction on Uniswap V3, exchanging 0.0143 ETH ($28.73) for roughly 2.14 trillion PEPE tokens.
The $PEPE price just hit a new all-time high!This diamond trader turned $83 into $79.4M by buying and holding $PEPE, a gain of 958,580x!3 wallets(belonging to the same person) spent only 0.041 $ETH($83) to buy 6.44T $PEPE($79.4M), and have never sold any $PEPE to date.… pic.twitter.com/CeLmbmVogz
— Lookonchain (@lookonchain) May 21, 2024
Concurrently, the second and third wallets also engaged in significant trades on the same platform. The second wallet exchanged 0.0135 ETH for 2.1 trillion coins, while the third exchanged 0.0133 ETH for 2.2 trillion coins. At the time of these transactions, the PEPE token was trading at a mere $0.0000000658 per token.
However, within the span of a year, the value of PEPE tokens experienced an astronomical surge, appreciating by 21,564.48 times, as tracked by CoinMarketCap. At the time of writing, the token price stands at $0.00001232.
A closer look at the technical indicators on the daily chart for the PEPE token reveals a compelling bullish trend. The MACD indicator exhibits a strong vertical movement, with the MACD line positioned at 0.000001293, above its signal line. This suggests that the bullish momentum has room to continue in the near future.