Trader Turns $462 into $3.4 Million Thanks to PEPE

Joel Frank

Last updated:

May 29, 2024 20:25 EDT

| 2 min read

Trader Turns $462 into $3.4 Million Thanks to PEPE / Source: Cryptonews

While very volatile, cryptocurrencies offer some of the highest potential returns in investing, especially with assets like meme coins.

The potential of meme coins to turn a small investment into a fortune was on full display recently.

As per on-chain monitoring and analytics firm Lookonchain, one trader recently turned $462 into $3.4 million in Pepe (PEPE).

The trader was an early PEPE buyer, bagging 324.9 billion PEPE for just 0.22 ETH on April 15 2023.

He sold 42 billion PEPE back in July 2023, another 100 billion on May 4. He moved the last batch (182.9 billion PEPE) to Binance on May 21, presumably to be sold.

In total, he bagged $3.4 million. As noted by Lookonchain, that’s a 7,368x gain.

Traders should note, bagging such gains with a meme coin is exceedingly rare.

Just as meme coins can deliver big upside, they can also shed value very quickly.

Traders should always make sure to understand what meme coins are and how they work before investing.

PEPE: Already 2024’s Best Meme Coin?.

Pepe (PEPE) first appeared in April 2023 and enjoyed a stunning start to life.

Within one month, it had already secured a listing on Binance. And despite some of its creators dumping tokens, its been able to maintain and grow its community ever since.

And 2024 is already shaping up to be another massive year for PEPE.

PEPE hit fresh all-time highs above $0.000017 earlier this week. At its current price of $0.00001481, it is around 950% higher on the year.

A big chunk of these gains have come in May, with Pepe up 120% so fr on the month.

Roaring Kitty’s surprise return to social media earlier this month help kick things off.

PEPE gained further momentum last week following the surprise approval of Ethereum ETFs by the SEC.

As a leading Ethereum-based meme coin, PEPE could be a major beneficiary of Ethereum ecosystem growth as institutional investors arrive.

Pepe currently has over 226,000 holders. Its X following recently exceeded 600,000. Pepe is without a doubt staking its claim to be 2024’s best meme coin.

PEPE Alternative to Consider – PlayDoge (PLAY).

Some crypto traders might prefer to buy a token early at a presale rather than invest in established meme coin...

https://cryptonews.com/news/trader-turns-462-into-3-4-million-thanks-to-pepe.htm

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