Date: Thu, August 29, 2024, 08:34 AM GMT
In a bold move reflecting growing confidence in memecoins, a prominent Pepe (PEPE) holder has just made a significant reinvestment. PEPE the Ethereum-based meme coin, which has surged over 11,893% from its all-time low (ATL), continues to attract attention from high-profile investors.
According to Lookonchain, a trader who previously saw their $200K investment in PEPE balloon to $1.97 million (+886% profit) has now spent $1.34 million USDC to acquire an additional 173 billion PEPE tokens. This decision highlights the trader’s strong belief in the coin’s future potential.
A $PEPE diamond hand who made $1.77M(+886%) spent 1.34M $USDC to buy 173B $PEPE again!
— Lookonchain (@lookonchain) August 29, 2024
This trader spent 200K $USDC to buy 170B $PEPE on Oct 25, 2023 and held it until Jul 25, 2024, when he sold it for 1.97M $USDC, making a profit of $1.77M(+886%)!https://t.co/CgRvoC86Pu pic.twitter.com/e0KJu1MvHc
The initial investment was made on October 25, 2023, when the trader bought 170 billion PEPE tokens for $200,000 USDC. After holding these tokens for about nine months, they sold them on July 25, 2024, for $1.97 million USDC, realizing a hefty profit of $1.77 million.
Currently, PEPE is trading at $0.000007822, showing a 2.45% increase in the past 24 hours. The coin’s market cap stands at $3.29 billion, underscoring its substantial presence in the crypto space.
This major reinvestment by a successful PEPE holder could signal ongoing optimism and potential for further gains.
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