Trader Profits $46 Million from PEPE Amid Token’s All-Time High

A year ago, an investor put $3,000 into PEPE. Since then, the asset’s value has surged 15,718 times, as noted by Lookonchain.

Earned more than $46M on $PEPE with only $3K, a gain of 15,718x!?

This super big winner sold 255B $PEPE($2.3M) for profits again after the price of $PEPE increased.

He spent only $3K to buy 4.9T $PEPE($56M currently) on Apr 15, 2023, and sold 1.41T $PEPE for $7.4M, with 3.5T… pic.twitter.com/VKGxmK9gCt

— Lookonchain (@lookonchain) May 15, 2024

After purchasing 4.9 trillion PEPE on March 15, 2023, the trader held onto them until March 2024. In recent months, he gradually sold part of the assets for $7.4 million as the coin reached its all-time high.

The trader retained 3.5 trillion meme coins in his wallet, valued at $38.9 million. Experts calculated his total “paper” profit on PEPE to be $46.3 million.

Previously, Lookonchain specialists reported how an investor turned 60 SOL (~$8700) into $1.26 million on HAMMY in two months.

In April, they identified a trader who earned over $26 million from meme token trading in a few months. Another user gained $1.5 million profit on seven coins.

Despite concerns about a bubble in the meme coin segment and some experts’ skepticism, Synthetix founder Kain Warwick described this type of coin as a valuable tool for attracting traders to DEX.