Crypto Trader Records 735,800% Profit on Large-Cap Memecoin That Just Hit a New All-Time High: On-Chain Data

An early buyer of one of the top 30 memecoins by market cap turned a few hundred dollars into millions in just over a year.

According to blockchain tracker Lookonchain, the trader acquired billions of Pepe memecoin (PEPE) just days after its public launch.

The trader then sold 42 billion Pepe tokens on July 7, 2023, 100 billion Pepe tokens on May 4, and the rest on May 22, resulting in profits of approximately 735.831%.

“An early buyer of PEPE deposited all 182.9 billion PEPE ($2.53 million) on Binance six hours ago.

This guy spent 0.22 Ethereum ($462) to buy 324.9 billion PEPE on April 15, 2023 and sold it all for $3.4 million.

He was lucky enough to turn $462 into $3.4 million, a 7,368x profit!”

At the time of writing, PEPE is trading at $0.0000128, up approximately 97% over the past 30 days.

The blockchain tracker also claims that another trader still holding trillions of Pepes acquired between April 14 and 23, 2023 now has a profit of over 95,000,000%.

“This diamond [hands] The trader turned $83 into $79.4 million by buying and holding PEPE, a gain of 958,580x!

Three wallets (belonging to the same person) spent only 0.041 Ethereum ($83) to purchase 6.44 trillion PEPE ($79.4 million) and have never sold any PEPE to date.”

Lookonchain also claims that cryptocurrency investment firm BlockTower Capital recorded a profit of more than 20% after selling a stock of Pepe on institutional trading platform Cumberland.

“BlockTower Capital transferred 202 billion PEPE ($2.8 million) to Cumberland for sale two hours ago, after the price of PEPE surpassed $0.000014.

BlockTower Capital purchased 202 billion PEPE ($2.22 million) via Cumberland six days ago.

Earning $578,000 in six days, a 26% return on investment.”

Image generated: DALLE3

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