Trader made $46 million with PEPE after hitting new ATH
Following the Pepe (PEPE) price rally to new all-time highs, a trader made a 15,718x profit in one year.
According to data provided by Lookonchain, the trader purchased a total of 4.9 trillion PEPE for less than $3,000 on April 15, 2023 — selling $2,256 worth of Timeless (LIT), $210 worth of Ethereum (ETH) and 500 USDC to buy the memecoin.
After the massive returns, the wallet holder has sold a total of 1.41 trillion PEPE so far, worth $7.4 million.
On-chain data shows that the trader still has a total of 3.5 trillion PEPE tokens, worth roughly $38.9 million at the reporting time. The massive profits come as PEPE reached a new all-time high of $0.00001145 earlier today.
The frog-themed meme coin is up by 12.1% in the past 24 hours and is trading at $0.00001142 at the time of writing. Following the price rally, PEPE currently has a total market cap of $4.8 billion, making it the 23rd-largest crypto asset in the market.
Moreover, the Pepe daily trading volume also registered a 76% rally over the past 24 hours, reaching $3.85 billion.
According to a crypto.news report on May 14, whale transactions consisting at least $100,000 worth of PEPE skyrocketed over the past 48 hours. However, data from Santiment shows a decline from 706 to 698 such transactions over the past 24 hours.
