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Highlights
- Crypto trader makes a staggering a 24,656x return on his investment using Pepe Coin.
- Market stats reflect a highly bullish sentiment prevailing for the token in the market.
- Despite PEPE's intraday waning action, market watchers anticipate further gains in the crypto.
A crypto trader’s profits garnered significant attention as he turned just $3K into a staggering $73 million. On-chain data revealed this trader is still using frog-themed meme crypto Pepe Coin to make huge profits. Notably, this trade maneuver gained significant traction as PEPE price recently hit a new ATH before downside movement.
Market watchers wonder if the meme coin has topped this bull cycle, given this trader sold trillions of coins amid the crypto’s run to all-time high.
Crypto Trader Turns $3K To $73M With Pepe Coin, What’s The Scoop?
According to recent data from Lookonchain, a crypto trader was recorded turning $3K into $73M using Pepe Coin. Notably, this trade maneuver echoed a buzz across the broader landscape as the frog-themed meme coin hit a new ATH before the market recently plummeted.
Per the data, this trader invested $3K to buy 4.91 trillion coins as of April 15, 2023. Over time, the trader gradually sold his holdings, cashing out a whopping 3.03 trillion coins for $27.5 million. Notably, a recent trade move by this trader was recorded as another 100 billion token selloff for a $2.8 million profit. Further, even after selling massive amounts, this market enthusiast holds 1.88 trillion tokens, pushing his total profit to $73 million.
While this trading strategy sparked significant market discussions, it’s also notable that market watchers speculate on the asset’s future movements. The trader’s remaining holdings could further witness selloffs in light of profit-booking intentions. However, the remaining holding also indicates a sense of confidence in one of the leading meme coins by market cap and its future movements.
Besides, recent whale data has cemented investors’ optimism surrounding the frog-themed meme token. Another post from Lookonchain revealed that 9 wallets belonging to the same whale spent 13.8 million DAI to acquire 555 billion PEPE at an average price of $0.000025. This massive buying, underscoring heightened buying pressure on the asset, has added to market optimism on future movements.
What’s Ahead For The Frog-Themed Meme Token?
PEPE price slipped 5% intraday and currently trades at $0.00002361. The 24-hour low and high were $0.00002326 and $0.00002512, after hitting a new ATH recently. Besides, broader charts underscored an ongoing bull run for the token, showcasing weekly and monthly gains worth 23% and 122%, respectively. This broader rising action falls in line with a bullish Q4 and the token witnessing heightened buying over the days.
Simultaneously, a recent PEPE price analysis by CoinGape indicated that the coin’s price could double. This bullish projection rides the back of enormous whale accumulations. Crypto traders and investors continue to eye the coin optimistically, expecting further gains in light of recent bullish updates.
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