A trader has increased the capital invested in the $PEPE memecoin by 24,000 times, according to the Lookonchain analytics platform. He invested about $3,000 in the token, and his total profit reached $73 million.
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“Turning $3,000 into $73 million, a 24,656-fold profit is legendary!” the analysts wrote.
In the comments to Lookonchain’s post, some users suggested that the anonymous lucky trader could have been an insider or an acquaintance of the PEPE token creators.
As of December 10, the token is among the top three memecoins, second only to Dogecoin (DOGE) and Shiba Inu (SHIB) in terms of capitalization ($10.6 billion).
According to Lookonchain, an unknown trader invested approximately $3,000 to buy 4.91 trillion PEPE almost immediately after the token was launched on April 15, 2023.
He gradually sold his PEPE as the price rose, cashing out 3.03 trillion tokens for $27.5 million. The trader still holds 1.88 trillion PEPE ($45.66 million), bringing his total profit to an incredible $73 million, analysts write
On December 9, the PEPE token set a new all-time high at $0.000028. Over the past month, it has risen by 124%, and since November 5 (the day of the US presidential election) - by 212%.#2024withBinance
