A trader has transformed an initial $12,000 investment into $1.05 million in just 10 days, primarily through the skyrocketing success of Pepe 2.0.
What Happened: Data from Lookonchain shows that the trader initially allocated $90,000 to purchase 7.9 trillion Pepe 2.0 tokens, and subsequently sold 5.2 trillion of the meme coin for approximately $614,000.
Pepe 2.0, a token largely introduced within the past week, positions itself as a new iteration of the popular Pepe Coin PEPE/USD.
Capitalizing on Pepe 2.0’s spike on June 28, the trader flipped $400,000 worth of Bitcoin BTC/USD for 6 trillion Pepe 2.0 tokens.
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: The trader continued to amass more Pepe 2.0 on June 30 and July 2.
As the price of Pepe 2.0 soared, the trade sold 2.3 trillion of these tokens for 215 ETH, equivalent to approximately $398,000.
At present, the trader still possesses 2.7 trillion Pepe 2.0 tokens, valued at around $533,000.
Another striking success story involves a wallet that turned an initial $900 investment in Pepe 2.0 into over $176,000 within 24 hours. Lookonchain analysis reveals that the wallet capitalized on this profitable position by selling in two separate transactions, each involving the sale of 2 ether (ETH), as the token continued its ascent.
Price Action: At the time of writing, Pepe 2.0 was trading at $0.000000161, up 10.08% in the last 24 hours, as per data from CoinMarketCap.
Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
