Here’s how this trader turned $3,000 into $73m with PEPE

One crypto trader made significant returns with Pepe despite the ongoing brutal correction plaguing the broader market.

Data confirms that the investor entered the Pepe (PEPE) market early and successfully turned $3,000 into $73 million. Blockchain analysis platform Lookonchain recently highlighted the investor journey.

Turning $3k into $73m, 24.656x return, what a legend!

Before the market crashes, $PEPE It broke a new record by exceeding $0.000028 #ATH!

This legendary trader sold another $100 billion $PEPE($2.8 million) for profit.

This trader invested ~$3k to buy 4.91 trillion $PEPE On April 15, 2023.

Over time it… pic.twitter.com/Z46fT8dbiY

— Lookonchain (@lookonchain) December 10, 2024

Notably, the trader initially invested nearly $3,000 in three transactions to purchase 4.91 trillion PEPE tokens in April 2023, two days after the meme coin began trading on the public market.

When PEPE gained traction and set an all-time high of $0.000004487 in May 2023, this investor began selling some of his shares at a profit. The sales frenzy started on May 5, 2023 and continued until May 18, 2023.

After the pause, the investor resumed selling in February of this year as PEPE entered a new uptrend. The distribution campaign continued until recently, and today the final sale took place, when 100 billion Pepes were sold for $2.8 million.

The trader has liquidated 3.03 trillion PEPE so far, making a total profit of $27.5 million. Despite these sales, the wallet still has 1.88 trillion tokens worth $45.66 million as of reporting date. This brings their total earnings to a staggering $73 million; This represents a return on investment of 24,656 times.

Notably, the last sell-off occurred before PEPE’s final collapse; meme coin fell to the $0.000025 region following the broader market crash. PEPE is currently trading at $0.00002554 at the time of writing, down 3.73% in the last 24 hours.

Source: crypto.news

Despite the price drop, Lookonchain found that significant whale activity contributed to PEPE’s resilience in the face of market turmoil.

Whales are buying $PEPE!

9 wallets (possibly belonging to the same whale) spent 13.8 million $DAI buy 555B $PEPE The average purchase price over the last 2 hours was $0.000025.

Address:
0xfb67ef6fe609edab1e0595e6815634e8e4db9cf7
0xb2f1956eae0817db73c4d542a4861ee485b7e7c6… pic.twitter.com/UDVTBxb2aq

— Lookonchain (@lookonchain) December 10, 2024

Remarkably, a single whale, possibly controlling nine wallets, moved $13.8 million in DAI to purchase 555 billion PEPE tokens in just two hours. The average purchase price for these transactions was $0.000025.

The latest development is the latest in a series of for-profit trades involving meme coins. In one example, a trader turned a $727 investment into $2.42 million in just four days by trading Goatseus Maximus (GOAT).

However, not all operations were successful. In October, another trader suffered a loss, missing out on a $6 million profit after a poorly timed investment in GOAT.

Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.