Pepe Coin (PEPE), the third largest meme coin by market capitalization, has emerged as a market sensation despite being a new crypto project that has existed for barely one year.
While most crypto assets appear to experience a mild price correction, PEPE’s price variables indicate a profitable outlook for current holders and traders joining the bandwagon.
Read Also: PEPE Now Has More Trading Volume Than XRP, Gains over 18% in Last Day
Amid the frog-themed token’s impressive price actions, some traders are making massive gains, like the trader that reportedly flipped an $83 PEPE investment into $79.4 million, representing a return on investment (ROI) in multiples of 958,850.
The above investor’s trading exploits were tracked and shared on X by Lookonchain, a renowned crypto assets market actions tracker, via its verified handle.
Trader’s Investment Strategy
According to the post on X, the yet-to-be-identified trader had staked 0.041 ETH from three different wallets, valued at about $83, to accumulate 6.44 trillion PEPE tokens, noted to be worth around $79.4 million at the time of making the post on X.
Lookonchain noted that the trader is still holding on to his PEPE holdings, which says a lot about his discipline and patience, placing him in a pole position for a more significant profit, as the meme coin is not showing any sign of declining anytime soon.
Transaction Details Revealed Trader To Be Among PEPE’s Early Investors
Accessing the trader’s transaction links, we discovered that the three transactions happened about a year ago, coinciding with the same period when PEPE initially graced the crypto market.
The first transaction involved 0.0143 ETH, valued at roughly $28.73 as of then, and accumulated 2.14 trillion PEPE Coins. The second and third swap deals exchanged about 0.0135 ETH worth around $27 for a combined 4.3 trillion PEPE tokens.
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PEPE’s Incredible Journey After Its Release
After coming on board in 2023, PEPE did not take long before it began manifesting positive signs of a token with tremendous potential, ready to take the meme and altcoin market by storm.
Read Also: Pepe Coin Surges 16% Today: Here’s How Much You Need to Be a PEPE Millionaire
Interestingly, the coin, which graced the crypto market at a $0.0000000658 selling price, appreciated by more than fifteen million percent in the second quarter of 2023, completing the year at an average 12.3 million percent quarterly price spike.
The coin recently attained a new price all-time-high (ATH)of about $0.00001569 a few hours ago. Remarkably, it exceeded a previous ATH to clinch the now former peak price earlier yesterday. Should the coin maintain its current momentum, chances are high that it could displace Shiba Inu (SHIB) or Dogecoin (DOGE) to rank among the top two meme coins.
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