While stories of crypto investors making millions from a few hundred dollars are nothing new, one PEPE Crypto Investor has gone above and beyond. This cryptocurrency trader made $46.3 million in just one year from an initial investment of $3,000. Here is the process they used.
$3,000 In PEPE Turns Into $46.3 Million
Lookonchain, an on-chain data tracking software, detailed this crypto trader’s steps to multiply a $3,000 investment into tens of millions in a post on X (previously Twitter). The trader reportedly spent $3,000 on PEPE tokens on April 15, 2023, the launch date of the coin, as recorded by the tracker. The trader was compensated with 4.9 trillion tokens.
In the same year, prominent cryptocurrency exchanges like Binance listed PEPE, setting off a legendary surge that would take its market cap from less than $1 million to more than $1 billion. The investor’s wealth had grown to over $10 million. However, the crypto trader kept most of their hoard and sold just a bit.
In May of 2024, the PEPE price shattered several previous records. This week, the meme coin’s price soared past $0.00001, causing its market cap to surpass $4.5 billion. As a result of this change, the trader’s wealth increased by more than $40 million.
The crypto trader started to cash out after the price hit a new record high. According to Lookonchain’s post, the investor made $2.3 million after selling 255 billion tokens. The trader has made a tidy profit of $38.9 million from the sale of 1.4 trillion tokens, leaving them with a balance of 3.5 trillion.
This investor achieved a return on investment (ROI) of 157,718%, or 15,718x. They made $46.3 million on this deal, including realized and unrealized profits.
Is This Crypto Investor An Insider?
Some have wondered if this crypto investor is an “insider” because they bought into PEPE at the very beginning, right when it was launched. So, some have questioned whether this person is involved with the meme coin.
While some have highlighted the investors’ perseverance in holding onto their tokens thus far, others have gone more narrowly focused. An X (formerly Twitter) user notes that the investors’ success in generating such high returns was due to their ability to hold onto their investments rather than selling them too soon.
The investor appears to hoard most of their coins in anticipation of future price increases. With the bull market projected to last through the year, this astute investor stands a better chance of seeing even more significant gains as the PEPE price continues to soar and set new all-time highs.
PEPE Trader’s Remarkable Profit Stirs Market Speculations
The dealer initially spent approximately $3,000 on April 15, 2023, to buy 4.9 trillion PEPE tokens, according to Lookonchain. In the time after, the value of PEPE surged. Because of this, the trader could make a tidy profit by selling off some of their holdings. They made a tidy sum of 1.41 trillion. While stories of crypto investors making millions from a few hundred dollars are nothing new, one PEPE crypto investor has gone above and beyond. Selling for $7.4 million and 255 billion PEPE for about $2.3 million. Despite these sales, the trader still has 3.5 trillion PEPE, worth about $38.9 million.
Since the purchase date was near PEPE’s launch time, there was some confusion in the crypto world. According to on-chain data, the trader also acquired 3.4 trillion PEPE on the same date—20,000 Timeless (LIT) tokens, or about $2,256. Trading LIT for PEPE implies some insider knowledge, considering LIT’s relatively obscure status and market value of only $3.6 million.
On April 15, 2023, LIT tokens cost $0.111814, compared to $0.001539 today. This increased the trader’s insider status. However, it was a lucrative and timely deal. PEPE’s rise has been phenomenal regardless of the trader’s insider status. PEPE achieved a record high of $0.00001151 today, its second this week, according to CoinGecko. PEPE is third in meme coin value behind Dogecoin (DOGE) and Shiba Inu (SHIB) with $4.68B.
After Keith Gill, known as “The Roaring Kitty,” returned, meme assets became popular, explaining PEPE’s success. Gill, famous for his role in the GameStop stock panic, returned to social media recently, generating new meme coins and stock speculation. BeInCrypto reports a 3,814% price increase for GameStop (GME) in the past week. Roaring Kitty (KITTY) has also gained since Gill’s comeback.
An Investor’s Success Story Emerges
Lookonchain said the investor spent roughly $3,000 on April 15, 2023, to purchase 4.9 trillion PEPE tokens. Since then, the value of PEPE has skyrocketed, allowing the investor to cash out a portion of their assets for a tidy sum. For up-to-date information on business and finance, visit COINTURK FINANCE.
For $7.4 million, the investor sold 1.41 trillion PEPE, and for about $2.3 million, they sold 255 billion PEPE. The investor continues to retain 3.5 trillion PEPE, worth around $38.9 million at current prices, notwithstanding these sales. Lookonchain data indicates that the investor made a total of $46.3 million.
The crypto community, however, had doubts because the purchase date was so close to PEPE’s launch period. According to the on-chain record, the investor took 3.4 trillion PEPE for 20,000 Timeless (LIT) tokens on the same day. The tokens were worth about $2,256 when they were given away.
Considering LIT’s low profile and market valuation of only $3.6 million, the timing of the swap for PEPE implies insider knowledge. In stark contrast to its present value of $0.001539, the LIT cryptocurrency sold at $0.111814 on April 15, 2023. This underscored the trade’s opportune and extremely lucrative character and added fuel to the fire about the investor’s potential insider information.
