A savvy crypto trader has turned an initial $3,000 investment into a staggering $73 million by capitalizing on the early days of the PEPE meme coin, even amid a turbulent market correction.
According to blockchain analytics platform Lookonchain, the trader entered the PEPE market in April 2023, just two days after the token began trading publicly. The investment, spread across three transactions, secured 4.91 trillion PEPE tokens.
PEPE’s price soared to an all-time high of $0.000004487 in May 2023, providing the trader with the perfect opportunity to start cashing out. Between May 5 and May 18, 2023, the trader sold off portions of their holdings, generating significant profits. The sales resumed in February 2024, coinciding with another PEPE price surge.
To date, the trader has sold 3.03 trillion PEPE tokens, amassing $27.5 million in realized profits. They still hold 1.88 trillion PEPE tokens valued at $45.66 million, bringing their total gains to a remarkable $73 million—a return on investment of 24,656 times the initial amount.
This streak of success occurred before PEPE’s recent decline, as the token dropped to $0.00002554 following a broader market crash. Despite the downturn, whales continue to show interest in the meme coin. Lookonchain reports that a single whale, possibly controlling nine wallets, purchased 555 billion PEPE tokens worth $13.8 million at an average price of $0.000025 within two hours.
Meme Coin Mania
The success of meme coin trading isn’t new. In one case, an investor turned $727 into $2.42 million in just four days trading Goatseus Maximus (GOAT). However, not all trades yield profits—some traders have suffered losses, including missing out on multimillion-dollar gains due to poor timing.
As meme coins continue to capture the crypto community’s attention, stories like this highlight the potential for both extraordinary gains and significant risks in the volatile world of cryptocurrency trading.
