- The trader has also liquidated around 3.03 trillion PEPE, registering a total of $27.5 million in profits.
- Regardless of these sales, the wallet still keeps 1.88 trillion tokens estimated at about $45.66 million, at the time of writing.
- A sole whale, likely managing nine wallets, shifted around $13.8 million in DAI to buy 555 billion PEPE tokens in only two hours.
A crypto trader has managed to safeguard substantial returns with Pepe regardless of the continuing depression attacking the wider market. The data reveals that the investor converted $3,000 to $73 million by setting its foot in the Pepe market early.
The journey of the trader was brought into the limelight by Lookonchain, a blockchain analytics platform. It is noteworthy that in the beginning, the trader invested about $3,000 over three transactions to buy 4.91 trillion PEPE tokens in April last year, two days after the coin started to trade publicly.
The major sell-off
As PEPE got resistance and attained a new all-time high of $0.000004487 in May last year, this investor initiated selling off parts of holdings at a profit. The sell-off period started on May 5 of the last year and carried on till May 18 of the same year.
After taking a break, the investor started the sales again in February 2024, as PEPE commenced on another uptrend. The distribution campaign continued till the recent past, with a recent sale which consisted of 100 billion Pepe for $2.8 million on December 10.
The trader has also liquidated around 3.03 trillion PEPE, registering a total of $27.5 million in profits. Regardless of these sales, the wallet still keeps 1.88 trillion tokens estimated at about $45.66 million, at the time of writing.
This drags the total gains to a whopping $73 million, portraying a 24,656 times return on investment. It is noteworthy that the recent sale happened before the latest PEPE declination, as the memecoin crashed to $0.000025.
A dig into PEPE price
At the press time, PEPE is trading at $0.00002521, up 1.56% in the last 24 hours. Regardless of the recent price drop, the blockchain analytics platform unveiled that some whale activity has been beneficial to the strength of PEPE in the face of market turbulence.
A sole whale, likely managing nine wallets, shifted around $13.8 million in DAI to buy 555 billion PEPE tokens in only two hours. The average purchasing value for these transactions was around $0.000025.
The latest development is the recent in line with profit-trading trades involving meme coins. In a case, a trader transformed a $727 investment into $2.42 million in just four days by trading Goatseus Maximus.
At the same time, all the trades were not successful. In October, one more trader faced losses after an oddly timed investment in GOAT, leaving a $6 million profit.
