Date: Thu, August 29, 2024, 08:45 AM GMT
The Ethereum-based meme coin PEPE, known for its meteoric rise of over 11,893% from its all-time low (ATL), has become a favorite among whales. Recent data from Lookonchain reveals that a savvy investor, who previously turned $200K into $1.97 million (+886% profit), has reinvested $1.34 million into the coin, purchasing a whopping 173 billion $PEPE tokens.
This isn’t the first time this trader has made a big bet on PEPE. Back in October 2023, they bought 170 billion PEPE tokens for $200,000 USDC. After holding onto them for nearly nine months, they sold them in July 2024 for $1.97 million, netting a substantial profit of $1.77 million.
A $PEPE diamond hand who made $1.77M(+886%) spent 1.34M $USDC to buy 173B $PEPE again!
— Lookonchain (@lookonchain) August 29, 2024
This trader spent 200K $USDC to buy 170B $PEPE on Oct 25, 2023 and held it until Jul 25, 2024, when he sold it for 1.97M $USDC, making a profit of $1.77M(+886%)!https://t.co/CgRvoC86Pu pic.twitter.com/e0KJu1MvHc
Despite the volatility often associated with meme coins, this investor’s decision to reinvest such a large sum shows their confidence in PEPE’s potential for continued growth. As of now, PEPE is trading at $0.000007822, up 2.45% in the last 24 hours, with a market cap of $3.29 billion.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice.
Add a Comment