In the bull market environment observed at the end of the year, a crypto trader attracted attention. On-chain data revealed Tuesday that this trader turned just $3,000 into a surprising $73 million using Pepe Coin, a frog-themed meme crypto. This move attracted a lot of attention, especially after the PEPE price reached a new record high.
PEPE Coin Whale
According to the latest data provided by Lookonchain, this trader purchased 4.91 trillion Pepe Coins by depositing 3 thousand dollars on April 15, 2023. Over time, the trader gradually sold his holdings, turning 3.03 trillion coins into cash for $27.5 million. In a final move, he sold 100 billion tokens, making a profit of $2.8 million. After this massive sell-off, the trader still has 1.88 trillion tokens, bringing his total profit to $73 million.
Investors are wondering whether the meme coin has completed this bull cycle. While the trader’s remaining assets may be subject to further sales for profit realization, the meme is also interpreted as a sign of confidence in the coin’s market value and future movements.
The Future of Pepe Coin
Updated whale data from Lookonchain reinforced investor optimism for the frog-themed meme token. The same news source revealed that 9 wallets belonging to the same whale spent 13.8 million DAI to purchase 555 billion PEPE for an average of $0.000025. This large purchase contributed to market optimism by increasing buying pressure on the asset.
At the time of reporting, PEPE price was trading at $0.00002529, down 1.5% on a daily basis. Its 24-hour lows and highs set new records at 0.00002244 and 0.00002825, respectively. Additionally, the weekly and monthly charts show the ongoing bull run for the token, with gains of 23% and 122% respectively.
The general condition of the market and whale movements may have an impact on the future performance of Pepe Coin. Investors observe continued interest and investment in meme coins, indicating that such assets can contribute to portfolio diversity.
Following market movements and the behavior of major investors can make it easier to make strategic decisions in cryptocurrency investments. Meme tokens like Pepe Coin, despite high volatility, can provide significant profits with the right strategies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
