PEPE, a popular meme coin on the Ethereum network, reached a new all-time high yesterday, with a market value surpassing $5.3 billion, placing it among the top 30 cryptocurrencies. According to Lookonchain, a blockchain data monitoring team, an early PEPE trader who bought PEPE for $83 now holds a value of $79.4 million.
Yesterday, the overall cryptocurrency market experienced an upward trend following positive news from the US Securities and Exchange Commission (SEC) regarding the approval of an Ethereum spot ETF. Among the cryptocurrencies, PEPE, which has repeatedly hit new highs this year, showed great strength. It reached a new high of $0.0000134, a 25% increase in the past 24 hours. With a market value of $5.83 billion, it has risen to the 21st position in the overall cryptocurrency market.
Image source: CoinMarketCap
A PEPE trader earns millions of dollars
In this context, Lookonchain, a blockchain data monitoring team, reported that a PEPE trader, who purchased PEPE coins for only $83, now holds a total value of $79.4 million, earning an astonishing 958,580 times the initial investment. (Note: the current PEPE price is even higher than last night’s estimate, so it is estimated that the wallet’s unrealized gains have exceeded $89 million). However, it is worth noting that some community members speculate that this wallet may be controlled by the issuer of PEPE. The actual situation remains unclear. Nevertheless, for PEPE investors, monitoring the fund movements of this wallet may help understand whether PEPE will face market selling pressure.
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