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At the end of the year, a notable bull market environment caught attention as a crypto trader made headlines. On-chain data revealed that this trader surprisingly transformed an initial investment of $3,000 into $73 million using the frog-themed meme cryptocurrency, Pepe Coin. This move garnered significant interest, especially following a new record price for PEPE.
PEPE Coin Whale
Recent data provided by Lookonchain indicates that on April 15, 2023, the trader invested $3,000 to acquire 4.91 trillion Pepe Coins. Over time, the trader gradually sold off assets, cashing out 3.03 trillion coins for $27.5 million. As a final move, the trader sold 100 billion tokens, realizing a profit of $2.8 million. Following these substantial sales, the trader still possesses 1.88 trillion tokens, bringing the total profit to $73 million.
Future of Pepe Coin
Current whale data from Lookonchain has bolstered investor optimism towards the frog-themed meme token. The same news source reported that this whale spent 13.8 million DAI to purchase 555 billion PEPE at an average price of $0.000025. This large acquisition increased buying pressure on the asset, contributing to market optimism.
During the reporting period, PEPE’s price dropped 1.5% daily, trading at $0.00002529. The 24-hour low and high reached new records of $0.00002244 and $0.00002825 respectively. Additionally, weekly and monthly charts indicate ongoing bullish trends for the token, showcasing gains of 23% and 122%, respectively.
The overall market condition and whale activities could strongly influence Pepe Coin’s future performance. Observing sustained interest and investment in meme coins suggests that such assets can contribute positively to portfolio diversification.
