PEPE Smart Money Investor Dumps Holding, but the Meme Coin Has More Upside Potential: Here’s Why
A PEPE investor has sold a portion of their PEPE holdings, with an unrealized profit of over $14 million. According to data from Lookonchain, the investor had been accumulating PEPE tokens almost daily from December 1, 2023, to February 12, 2024, spending a total of $1.49 million to acquire 1.4 trillion PEPE.
In a strategic move, the investor sold 140 billion PEPE, representing 10% of their total position, for $1.57 million. The investor’s remaining holdings of 1.26 trillion PEPE are currently valued at $14 million, resulting in a total profit exceeding $14 million and an impressive return on investment (ROI) of 943%.
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PEPE Holders Enjoy Substantial Gains, Bull Run Expected to Continue
The success story of this PEPE smart money investor is not an isolated incident, as the meme coin has been on a tear in recent days. According to a tweet by X user Captain Pepe, PEPE holders have made over 800% in gains within the last 90 days, and this is considered to be just the beginning of the token’s upward trajectory.
The coin’s price performance, with PEPE currently trading at $0.00001135, up 11% in the past 24 hours, further supports the bullish sentiment surrounding PEPE. Over longer time frames, the token has also seen significant growth, with a 42.8% increase in the last seven days and a 111.9% surge in the last 30 days.
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Show more +Technical Analysis Suggests Imminent Breakout and Further Upside Potential
Curb, a prominent crypto analyst, has shared a technical analysis of PEPE’s price chart, indicating that the token is poised for a breakout and continued upward momentum. According to Curb, PEPE has hit their first target of a 10x return from the entry point at $0.00001, and the token is currently consolidating around the $0.00001 level, which corresponds to a market capitalization of $4 billion.
The analyst notes that PEPE appears to be breaking out upwards from this consolidation phase, suggesting that the token’s price may continue to appreciate in the near future. While Curb mentions that the PEPE chart is due for a fractal update, the overall outlook remains bullish, with the potential for further upside.
The recent profit realization by a PEPE smart money investor, who sold 10% of their holdings for $1.57 million and continues to hold 1.26 trillion PEPE valued at $14 million, highlights the impressive growth and potential of this meme coin. PEPE holders have enjoyed substantial gains over the past 90 days, and technical analysis suggests an imminent breakout, so the bullish sentiment surrounding PEPE appears to be well-founded.
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