PEPE token, which gained immense popularity in the crypto market in April-May, has already lost 50% of its maximum value.
Despite this dip, some investors made massive profits from PEPE. Lookonchain reports that the top 10 most profitable addresses on PEPE earned millions of dollars in ROI.
The leading address, dimethyltryptamine.eth, made an incredible $11 million from PEPE, with a 44,673x ROI.
Another address, 0x45cf, made $5 million with a 120,102x ROI, making it the second-highest gainer on PEPE.
An unknown large investor bought 962.3 billion PEPE for $3 million on Friday, but their portfolio is now valued at only $2.14 million due to dip.
Many investors continue to hold multi-million dollar capital in PEPE, despite doubts about the reasonableness of such actions at this stage of the market.
It remains to be seen whether these top gainers will continue to hold onto their PEPE investments or exit to buy a different meme coin.