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PEPE Whale Scores $5M Profit in One Month: Can Meme Coins Be Lucrative?


A cryptocurrency whale has made a staggering $5 million profit by investing in the meme coin PEPE within just one month.

Surprisingly, this whale made over a 52% return on its investment, even though PEPE’s price dropped 17% from its all-time high during that time.

This incredible gain has reignited the debate surrounding the potential profitability of meme coins.

Whale Turns Almost $5M Profit from Memecoin PEPE in 30 days

The whale’s strategic move came despite PEPE’s price experiencing a 17% decline from its all-time high during the same period (one month).

Data from Lookonchain shows that this investor recently put all their PEPE tokens, totaling 660.7 billion and worth $9.52 million, into a Binance wallet.

Lookonchain PEPE

Source: X Post

Lookonchain added The Lookonchain report stated, “In the past 10 minutes, a whale deposited all 660.7B PEPE ($9.52M) bought a month ago into Binance, making ~$4.95M, with an ROI of 52%.”

While the whale’s Binance wallet now holds a substantial sum, their original wallet, identified as “0x546,” has been left with a relatively modest $161,449 worth of cryptocurrencies.

Interestingly, over 96% of the remaining holdings in this wallet consist of Compound (COMP) tokens, according to data from Coinstats.

This extraordinary feat by the PEPE whale comes at a time when investor interest in meme coins has experienced a slight decline.

CoinMarketCap data shows a decrease of more than 20% in the trading volume of meme coins.

This volume now sits above $8.4 billion, lower than the previous day’s volume of over $13 billion.

Top meme tokens

Source: CoinMarketCap

Even though meme coins have no real use in the world, they’ve made more traders millionaires in the crypto space.

In just a few days, another trader made a whopping $2.7 million just by trading the Donald Trump-themed MAGA (TRUMP) meme token.

Notably, all this happened in just three days.

Whale Lookonchain

Source: X Post

According to Loonkochain data, “He spent $537.5K to buy 6B $MAGA on May 24 and May 25, then sold 1.5B $MAGA for 744K $USDT to take profits 10 minutes ago.

He currently holds 4.5B $MAGA, worth $2.51M.”

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