Early buyers of the top 30 market capitalization memecoins have converted hundreds of dollars into millions of dollars in a little over a year.
According to blockchain tracker Lookonchain, traders made billions of dollars in the Pepe (PEPE) memecoin within days of its public launch.
The trader then sold 42 billion Pepe tokens on July 7, 2023, 100 billion Pepe tokens on May 4, and the remainder on May 22, resulting in a return of approximately 735,831%. Yes.
“Initial buyers of PEPE deposited all 182.9 billion PEPE ($2.53 million) to Binance 6 hours ago.
This person bought 324.9 billion PEPE using 0.22 Ethereum ($462) on April 15, 2023 and sold them all for $3.4 million.
He was lucky enough to turn $462 into $3.4 million, a profit of 7,368x!”
As of this writing, PEPE is trading at $0.0000128, up about 97% in the last 30 days.
The blockchain tracker also notes that another trader who still holds trillions of Pepe acquired between April 14 and April 23, 2023, is currently posting gains of over 95,000,000%.
“This diamond trader turned $83 into $79.4 million by buying and holding PEPE. That’s 958,580 times your profit!
The three wallets (owned by the same person) spent only 0.041 Ethereum ($83) to buy 6.44 trillion PEPE ($79.4 million) and have not sold any PEPE so far.”
Lookonchain also revealed that cryptocurrency investment firm BlockTower Capital recorded a gain of more than 20% after selling Pepe from institutional trading platform Cumberland.
“BlockTower Capital transferred 202 billion PEPE ($2.8 million) to Cumberland for sale two hours ago after the PEPE price topped $0.000014.
BlockTower Capital purchased $202 billion worth of PEPE ($2.22 million) through Cumberland six days ago.
“I made $578,000 in 6 days, a 26% return on investment.”
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