The story of cryptocurrency investors turning a few dollars into millions is not new, but one particular PEPE investor took it one step further. This cryptocurrency trader was able to turn a $3,000 investment into $46.3 million in just one year. Here’s how they did it:
$3,000 in PEPE turns into $46.3 million.
Lookonchain, an on-chain data tracking platform, revealed in a post by X (formerly Twitter) exactly how the cryptocurrency trader turned a $3,000 investment into tens of millions of dollars. According to the tracker, a trader purchased $3,000 worth of PEPE tokens on April 15, 2023, when the coin was launched. Traders received a total of 4.9 trillion tokens in return.
That same year, PEPE went on a legendary rally from a market capitalization of less than $1 million to over $1 billion after securing listings on major cryptocurrency exchanges like Binance. At this time, the investor’s stash increased to more than $10 million. However, cryptocurrency traders continue to hold on to a stash of assets and sell only a small portion of them.
By May 2024, PEPE prices had hit all-time highs several times. The most recent thing that happened was this week when the price of the meme coin rose above $0.00001, surpassing the $4.5 billion market capitalization. The move increased the trader’s holdings to more than $40 million.
Crypto traders are starting to make some profits as prices hit new all-time highs. As seen in Lookonchain’s post, investors recently sold 255 billion tokens for a total of $2.3 million. So far, traders have sold approximately 1.4 trillion tokens, leaving a balance of 3.5 trillion tokens, which is currently worth a whopping $38.9 million.
In total, these investors earned 15,718 times their return, or an ROI of 157,718%. The total realized and unrealized profits from this single transaction currently amount to $46.3 million at the time of this writing.
Are these cryptocurrency investors insiders?
Considering the timing of PEPE purchases by cryptocurrency investors when PEPE had just launched, questions have been raised as to whether this particular investor was an ‘insider’. That said, some people wondered if this was one of the team members behind the meme coin.
But others have focused on the sheer grit of investors holding onto the tokens to this point. One user of
Everyone immediately claims to be an ‘insider’.
Bitch, that guy spent 3 grand and held on like a king in diamonds. This is how you become an ‘insider’
Do you want these benefits? You Want ‘Inside Tips’
Don’t be a jet in your paper hands. https://t.co/q6R3ksaRdT
— Naka (@Nakameowdough) May 15, 2024
Currently, investors appear to be holding on to most of the coins to wait for better prices. Given that the bull market is expected to continue unfolding this year, it is likely that PEPE prices will continue to rebound and hit new all-time highs, which would mean higher profits for this savvy investor.