A whale investor recently earned a substantial 15,718 gain from investments in PEPE. This development shows the investor was very fortunate and timed the purchase perfectly.
Here’s How the Investor Gained with PEPE
As revealed by Lookonchain, the whale invested $3,000 in PEPE on April 15, 2023, and as of today, that investment is worth over $46 million. This is a gain of 15,718 times the original investment.
Earned more than $46M on $PEPE with only $3K, a gain of 15,718x!😱
This super big winner sold 255B $PEPE($2.3M) for profits again after the price of $PEPE increased.
He spent only $3K to buy 4.9T $PEPE($56M currently) on Apr 15, 2023, and sold 1.41T $PEPE for $7.4M, with 3.5T… pic.twitter.com/VKGxmK9gCt
— Lookonchain (@lookonchain) May 15, 2024
The whale investor bought 4.9 trillion PEPE tokens at $3,000, then strategically sold off some (1.41 trillion tokens) as the price went up, turning that portion into $7.4 million. Even after selling some of the tokens, the trader still holds 3.5 trillion tokens, currently valued at about $38.9 million. This means the investor is yet to cash out entirely and is still invested in the token’s future.
However, it is worth noting that this kind of price surge is not guaranteed and can be unpredictable. Investors should, thus, exercise caution when making crypto investments. Built upon the legacy of Pepe the Frog, Pepe aims to join the ranks of popular meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE). These two tokens are known for returning massive gains to their investors. In its early days, Shiba Inu also made many millionaires setting a precedence for PEPE.
According to the latest CoinMarketCap data, the token is trading at $3.48, demonstrating a 4.5% decline in the last 24 hours. Also, the trading volume dropped by 31.4% to $1.96 million, while the market cap stands at $465 million.
1T Tokens Withdrawn from Binance
In a related development, 1 trillion PEPE tokens were reportedly withdrawn from the Binance exchange. Before this move, 322.48 billion PEPE tokens worth $2.62 million were moved. Accordingly, the total combined transactions now amount to nearly 1.3 trillion tokens.
This sudden withdrawal from Binance is often considered a bullish signal in the crypto market. However, concerns have been raised about the utilization of a multi-signature wallet which many consider a manipulation.