Investor turns US$26 into US$61 million with PEPE
Amid popular cryptocurrencies like Bitcoin, Ethereum and others, memecoins have created a unique legion of fans. As a result, the biggest increases among the 100 largest cryptocurrencies by market value this Thursday (14) came from memecoins. The biggest highlight was PEPE, which is in high demand thanks to its price rally in May, and the same rally is currently forming.
In the last 24 hours, the price of memecoin soared by almost 80% and reached its all-time high after PEPE entered Coinbase.
One investor managed to take advantage of this movement and transform US$26 into US$61.5 million with memecoin. However, he cannot spend or sell his tokens. But the one who is free from any blockage is Pepe Unchained and its PEPU token, whose pre-sale continues at full steam.
From US$26 to US$61 million
In April 2023, a memecoin investor invested just 0.013 Ether (ETH) in PEPE, which at the time was worth around US$26. With this, he purchased 2.52 trillion PEPE, as the token was new to the market and did not was catching the attention of investors.
However, as the price rose, the money invested also multiplied. Today, with PEPE at its all-time high, the US$26 became US$61.5 million.
But despite the millions in profit, the investor, because his wallet address (0xaf235…f54534) is on the blacklist of PEPE developers. In other words, the wallet cannot sell or transfer your PEPE.
The reasons are still unclear, and even Lookonchain's post did not mention the reason in its post. But these blocks generally occur due to the address being involved in some suspicious activity.
PEPE reaches new high
In recent days, many investors have accumulated billions of tokens by trading memecoins. Recently, one of them deposited 500 billion PEPE, worth around US$11.38 million, into Coinbase. Lookonchain data reveals that the whale spent 1,173 ETH ($2.04 million) to purchase these tokens between May 6 and September 10, 2023.
At that time, the price of memecoin was very low, but over a year of waiting it grew exponentially. The whale still kept 1.5 trillion PEPE (US$36 million), collectively making a profit of US$45 million.
Another major investor also made high profits, withdrawing almost 197.39 billion tokens ($4.8 million) from Binance. With this increase in whale activity, it is clear why the price of memecoin has risen 120% for the week and 79% in the last 24 hours, renewing its all-time high at $0.00002524 just a few hours ago.
Pepe Unchained em alta
PEPE price has witnessed huge appreciation thanks to constant interactions with major investors and listing on Coinbase. Furthermore, other platforms such as Robinhood and Upbit announced the listing of memecoin, increasing its demand multiple times in the market.
More importantly, buyers are in control of the trend and demand, which has caused the price to soar. However, the price has fallen significantly since the ATH, currently at $0.00002232, consolidating after strong buying.
If market sentiments remain the same, there is a possibility that gains could continue, but a sell-off could happen with a trend reversal.
Finally, Pepe Unchained, which is not yet listed on exchanges, saw its presale approaching US$30 million due to the popularity and strength of its model. If the demand for memecoins continues to rise, this project, which focuses on a launch platform for memecoins with low costs and high speed, has everything to be the new PEPE in terms of exponential gains.