PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
Positive news surrounding a potential Ethereum ETF approval hit the crypto market at the start of this week. This frenzy has caused many Ethereum-based meme coins like PEPE to see significant price pumps.
The PEPE price has once again broken its all-time high price after doing so just last week. According to reports from LookOnChan, one incredibly fortunate investor turned just $83 worth of Ethereum into $79.4 million by buying and holding PEPE last year.
The trader’s three wallets spent a mere 0.041 ETH (around $83 at the time) to purchase 6.44 trillion PEPE tokens in late April 2023 – just over a year ago. Remarkably, those PEPE holdings are now valued at nearly $80 million at today’s prices, representing a mind-boggling 958,580x gain. The trader has not sold a single PEPE token to date.
The $PEPE price just hit a new all-time high!
— Lookonchain (@lookonchain) May 21, 2024
This diamond trader turned $83 into $79.4M by buying and holding $PEPE, a gain of 958,580x!
3 wallets(belonging to the same person) spent only 0.041 $ETH($83) to buy 6.44T $PEPE($79.4M), and have never sold any $PEPE to date.… pic.twitter.com/CeLmbmVogz
This enormous profit showcases the potential upside that can come with investing in meme coins and other speculative crypto assets early on, even with a relatively small initial investment. However, it’s important to understand that such outlier stories are exceptionally rare, and most crypto investors experience far more modest returns or losses.
At the time of writing, PEPE chart shows that this meme coin is trading around $0.000012 after pumping over 30% today to hit its new all-time high. However, with PEPE’s RSI around 80 on the price chart, some analysts suggest a potential correction could be incoming after such a monumental rally.
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Show more +While stories like this are incredible to witness, it’s crucial for crypto enthusiasts to approach meme coins and other speculative assets with appropriate risk management. Sensational profits can occur, but losses are just as possible in these highly volatile markets. To be honest, we at CaptainAltcoin are not fans of meme coins, but this PEPE story is mind-blowing.
Read also: Meme Coin Price Predictions: PEPE and BONK Eye New Highs Following Positive ETH ETF News
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