On December 9, the meme token Pepe (PEPE) reached a new all-time high, surpassing $0.000028. A user profited $73 million from the coin, as noted by analysts at Lookonchain.
Turning $3K into $73M, a 24,656x return, what a legend!
Before the market plummeted, $PEPE broke through $0.000028, setting a new #ATH!
This legendary trader sold another 100B $PEPE($2.8M) for profit.
This trader invested ~$3K to buy 4.91T $PEPE on Apr 15, 2023.
Over time, he… pic.twitter.com/Z46fT8dbiY
— Lookonchain (@lookonchain) December 10, 2024
On April 15, 2023, the trader invested $3,000 to purchase 4.91 trillion PEPE. Over time, he periodically sold the meme token, exchanging a total of 3.03 trillion PEPE for $27.5 million.
In the latest transaction, 100 billion PEPE brought him $2.8 million.
His wallet still holds 1.88 trillion PEPE valued at $45.66 million. The total profit amounts to $73 million, with an investment return of 24,656 times.
At the time of writing, the coin is trading at $0.00002502, according to CoinGecko.
One commentator on the tweet noted that for every millionaire story in meme tokens, there are thousands of liquidation cases.
Wild gains in the meme sphere! But remember, for every PEPE millionaire story, thousands got rekt. Stay sharp, hunt smart, and never risk more than you can afford to lose in the wild west of crypto.
— WolfPack (@WolfPackProd23) December 10, 2024
“Stay sharp, hunt smart, and never risk more than you can afford to lose in the wild west of crypto,” he added.
In mid-November, the meme token PEPE reached a record capitalization of $9.9 billion. Whales profited millions from the meme coin’s price surge.