- PEPE’s price stands at $0.00001484, reflecting a 9.08% drop in the past 24 hours but a 7.10% weekly increase.
- A trader turned $462 into $3.4 million in PEPE, show the potential of the meme coin.
Even though they are volatile by nature, cryptocurrency—especially meme coins—offer some of the best possible returns on investment. Meme currencies have shown lately that they can grow modest investments into large riches.
Pepe Coin (PEPE) is one such instance; according to on-chain monitoring and analytics firm Lookonchain, a trader was able to turn $462 into an astounding $3.4 million. Early on in 2023, on April 15, the trader bought 324.9 billion PEPE for a meager 0.22 ETH.
Part of his holdings were sold strategically; 42 billion PEPE in July 2023, 100 billion on May 4, and the remaining 182.9 billion PEPE were transferred to Binance on May 21, most likely for sale. The remarkable cumulative gain of $3.4 million from this series of transactions was a 7,368x return on investment.
PEPE: Already 2024’s Best Meme Coin?
When Pepe (PEPE) was launched in April 2023, it attracted the interest of the market very quickly. That got listed on Binance in less than a month. Though some of its founders have sold off their tokens, PEPE has been able to maintain and expand its community. Already, 2024 is looking to be another historic year for the token.
CoinMarketCap data show that PEPE is worth about $0.00001484, as of right now. After falling 9.08% in the previous day, this price is still positive, having risen 7.10% in the previous 7 days.
Prior to that, ETHNews reported on another trader who made $2.17 million with PEPE, demonstrating the enormous potential profits on the cryptocurrency.
PEPE is now around 950% higher for the year and hit new highs at $0.000017 earlier this week. May has shown notable increases; PEPE is up 120% thus far this month.
Roaring Kitty’s unannounced return to social media earlier this month aided in the growth of this trend. Pepe also gained further traction after the SEC unexpectedly approved Ethereum ETFs.