İstanbul escort bayan sivas escort samsun escort bayan sakarya escort Muğla escort Mersin escort Escort malatya Escort konya Kocaeli Escort Kayseri Escort izmir escort bayan hatay bayan escort antep Escort bayan eskişehir escort bayan erzurum escort bayan elazığ escort diyarbakır escort escort bayan Çanakkale Bursa Escort bayan Balıkesir escort aydın Escort Antalya Escort ankara bayan escort Adana Escort bayan

24.4 C
New York

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

Published:

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.”

Related articles

Recent articles

spot_img