User turns $260 into $2m in a week on the PEPE meme token

Analysts at Arkham say the user dimethyltryptamine.eth earned more than $2 million in under a week from trades in the PEPE meme token.

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This is not a bug on our platform

This account really holds its entire net worth in a coin called «Pepe» — worth about $2M

It purchased the tokens for $260 soon after PEPE launched, and held the position up to a $150M Market Cap. pic.twitter.com/7sJTfjZ4T9

— Arkham (@ArkhamIntel) April 20, 2023

They recorded purchases of the asset worth $260 immediately after deployment on April 14 of the corresponding contract. The user continues to hold the position.

According to CoinGecko, the project’s market capitalization reached $131.8 million. At its peak the figure was $148.9 million.

«This is not a bug on our platform», Arkham warned, posting a screenshot of dimethyltryptamine.eth’s asset trajectory.

Nearly all of the user’s wealth is concentrated in the aforementioned meme token.

«So far he has sold PEPE for only $8,000 to buy 2 MILADY, LOL», — the experts quipped.

As reported, the MEV-bot earned about $1.5 million in PEPE pairs, spending $1.3 million on gas.