The meme coin PEPE has experienced significant growth over the past week, reaching an ATH of $0.0000142 on May 22, according to CoinGecko. In light of this, major companies and retail investors have reaped substantial profits, analysts at Lookonchain reported.
One trader deposited 201.85 billion PEPE ($2.83 million) on the Bybit exchange. He traded the meme token three times, earning a total of approximately $2.48 million from these transactions.
A smart trader deposited 201.85B $PEPE($2.83M) to #Bybit to take profits.
This trader has traded $PEPE 3 times and made money every time, with a win rate of 100%, and the total profit is ~$2.48M.https://t.co/Ww3YY4asNI pic.twitter.com/tQhTSGwh80
— Lookonchain (@lookonchain) May 22, 2024
The cryptocurrency hedge fund BlockTower Capital transferred 202 billion PEPE ($2.8 million) to the OTC platform Cumberland for sale after the token’s price exceeded $0.000014. The management company purchased these coins six days earlier for $2.22 million, resulting in a profit of $578,000 with a 26% return on investment.
BlockTower Capital transferred 202B $PEPE($2.8M) to #Cumberland for sale 2 hours ago after the $PEPE price broke through $0.000014.
BlockTower Capital bought the 202B $PEPE($2.22M) via #Cumberland 6 days ago.
Making $578K in 6 days, with an ROI of 26%.https://t.co/bSxQ2JVkZJ… pic.twitter.com/zyntQBRmre
— Lookonchain (@lookonchain) May 22, 2024
An early buyer of the meme coin achieved a 7,368-fold return on investment. On April 15, 2023, he exchanged 0.22 ETH ($462) for 324.9 billion PEPE. The trader gradually sold the coins, and on May 22, he deposited the remaining 182.9 billion PEPE ($2.53 million) on Binance. In total, he earned $3.4 million from the transactions.
An early buyer of $PEPE deposited all 182.9B $PEPE($2.53M) into #Binance 6 hours ago.
This guy spent 0.22 $ETH($462) to buy 324.9B $PEPE on Apr 15, 2023 and sold it all for $3.4M.
He was lucky enough to turn $462 into $3.4M, a gain of 7,368x!
Address:https://t.co/o4UcGKVHEh pic.twitter.com/zq03iGzcAe
— Lookonchain (@lookonchain) May 22, 2024
At the time of writing, PEPE is trading at $0.00001392, with the meme coin gaining 27% over the past day.
On May 15, a PEPE holder who purchased the coin about a year ago for $3,000 achieved a total “paper” profit of x15,718 — $46.3 million.
Previously, ForkLog reported that a user with the address sundayfunday.sol earned approximately $2.26 million on the new token 1DOL.