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Crypto Trader Turns $3K To $73M With Pepe Coin Trading, Here’s All
Against the backdrop of a bull market witnessed as the year ends, a crypto trader has garnered significant attention. On-chain stats on Tuesday revealed that this trader turned a mere $3K into a staggering $73 million using the frog-themed meme crypto, Pepe Coin. Notably, this trade maneuver has gained significant traction as PEPE price recently hit a new ATH before witnessing a waning movement.
Market watchers anticipate whether the meme coin has topped this bull cycle, given this trader offloaded trillions of coins amid the crypto’s ATH run.
Crypto Trader Turns $3K To $73M With Pepe Coin, What’s The Scoop?
According to recent data from Lookonchain, a crypto trader was recorded turning $3K into $73M using Pepe Coin. Notably, this trade maneuver echoed a buzz across the broader landscape as the frog-themed meme coin hit a new ATH before the market recently plummeted.
Per the data, this trader invested $3K to buy 4.91 trillion coins as of April 15, 2023. Over time, the trader gradually sold his holdings, cashing out a whopping 3.03 trillion coins for $27.5 million. Notably, a recent trade move by this trader was recorded as another 100 billion token selloff for a $2.8 million profit. Further, even after selling massive amounts, this market enthusiast holds 1.88 trillion tokens, pushing his total profit to $73 million.
While this trading strategy sparked significant market discussions, it’s also notable that market watchers speculate on the asset’s future movements. The trader’s remaining holdings could further witness selloffs in light of profit-booking intentions. However, the remaining holding also indicates a sense of confidence in one of the leading meme coins by market cap and its future movements.
Besides, recent whale data has cemented investors’ optimism surrounding the frog-themed meme token. Another post from Lookonchain revealed that 9 wallets belonging to the same whale spent 13.8 million DAI to acquire 555 billion PEPE at an average price of $0.000025. This massive buying, underscoring heightened buying pressure on the asset, has added to market optimism on future movements.
What’s Ahead For The Frog-Themed Meme Token?
At the time of reporting, despite the massive buying, PEPE price slipped 1.5% intraday and is currently trading at $0.00002529. Its 24-hour low and high were $0.00002244 and $0.00002825, also marking a new ATH. Besides, broader charts underscored an ongoing bull run for the token, showcasing weekly and monthly gains worth 23% and 122%, respectively. This broader rising action falls in line with a bullish Q4 and the token witnessing heightened buying over the days.
Simultaneously, a recent PEPE price analysis by CoinGape Media indicated that the coin’s price could double. This bullish projection rides the back of a staggering $1.14 billion worth of whale accumulations. Crypto trader and investors continue to eye the coin optimistically, expecting further gains in light of recent bullish on-chain statistics.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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