Meme Coin $PEPE Reaches All-Time High, Driving Massive Profits For Whales

The popular meme coin $PEPE hit a new all-time high yesterday, pushing all addresses into profit territory before experiencing a minor 3% decline today.

Operating as an ERC-20 token on the Ethereum blockchain, $PEPE employs a redistribution system that rewards long-term stakers, incentivizing commitment to the project.

This recent surge has significantly benefited large holders. On-chain reports reveal that a whale has made an impressive $13.67 million (+875%) from $PEPE in just three months. 

Between December 1, 2023, and February 12, 2024, this whale invested $1.56 million to acquire 1.40 trillion $PEPE. 

Just 14 hours ago, the whale sold 140.4 billion $PEPE for $1.57 million in DAI at $PEPE’s new ATH, effectively recovering their initial investment. The whale still retains 1.26 trillion $PEPE, valued at $13.7 million, representing pure profit.

Another $PEPE Whale Trader Bags Massive Profits 

Another significant winner in the $PEPE frenzy sold 255 billion $PEPE for $2.3 million in profits following the coin’s price increase. This investor initially spent a mere $3,000 to purchase 4.9 trillion $PEPE, currently worth $56 million, on April 15, 2023. 

Since then, they have sold 1.41 trillion $PEPE for $7.4 million, with 3.5 trillion $PEPE, valued at $38.9 million, still in their possession. 

This transaction has resulted in a staggering total profit of approximately $46.3 million, marking a gain of 15,718 times their original investment.

The $PEPE token’s recent performance underscores the potential for significant gains in the volatile world of meme coins. As $PEPE continues to attract attention and investors, its innovative reward system and the substantial profits realized by early adopters are likely to fuel further interest and speculation in the market.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Via: https://themerkle.com

Share this article:

Leave a Reply

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

The reCAPTCHA verification period has expired. Please reload the page.

Please enter CoinGecko Free Api Key to get this plugin works.