Despite having no intrinsic value, memecoins have created many new millionaires among crypto investors.
A cryptocurrency trader has reportedly turned a $27 investment in the Pepe memecoin into an extraordinary $52 million profit, according to blockchain analytics firm Lookonchain.
An unknown PEPE trader bagged the life-changing profits, crypto intelligence firm Lookonchain revealed in a Dec. 14 X post.
“A $PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE($52M) to a new address… From $27 to $52 million — an extraordinary 1,900,000x return!”
Despite having no intrinsic utility, memecoins have created many new millionaires among crypto investors. In May, another savvy trader turned $3,000 into $46 million trading the Pepe token, making an over 15,700-fold return on investment.
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