Amid the most recent price rally for the meme coin, one PEPE investor turned $3,000 into $32 million. Indeed, the investor’s bet on the asset paid off big time amid the asset’s recent 408% rally that took place over the past week. Moreover, the token is one of the leading gainers over that same seven-day time frame.
The entire digital asset market has seen massive gains take place over the last couple of weeks, led by Bitcoin (BTC). Specifically, the market-leading cryptocurrency is nearing its all-time high, surpassing $67,000 on Monday. That performance has led the way for Pepe’s massive increase that may continue to dispel expectations the meme coin could falter in 2024.
Also Read: Pepe Trader Turns $27 to $14.6 Million
How Pepe Earned One Investor More Than $32M
Within the digital asset industry, meme coins have proven to be the most volatile. During bear markets, these assets can often fall to massive lows. However, when positive sentiment abounds they can prove immensely fruitful. Thi sis a reality that one investor has recently discovered.
Despite many expecting Pepe to falter after its 2023 highs, one investor turned $3,000 into $32 million amid the recent rally for the asset. Indeed, the investor in question was highlighted by the crypto data analyst platform Lookonchain. Moreover, they noted that the total profit was $32.8 million with “a gain of 11,077x!”
Also Read: PEPE Surges 50%: Outshines Dogecoin (DOGE) and Shiba Inu (SHIB)
The investor in question had used the initial $3,000 to obtain a total of 4.914 trillion PEPE. The original purchase took place early on in Pepe’s existence, and the initial sales took place as the price saw its first real rallies. Subsequently, since May 2023, the investor has sold 760 billion PEPE for $2 million.
Thereafter, the investor currently holds 4.15 trillion PEPE worth $30.8 million. Therefore, the total profit from the initial investment stands at a remarkable $32.8 million, while still holding Pepe for ten months in total. Conversely, Pepe is currently trading at $0.0000073, and is up more than 30% in the last 24 hours, according to CoinMarketCap.
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