Crypto Investor Turns $3,000 into $46 Million with Pepe Trade

Crypto Investor Turns $3,000 into $46 Million with Pepe Trade

A crypto investor has made headlines after transforming a $3,000 investment into over $46 million through a Pepe trade. Blockchain data platform Lookonchain shared this remarkable transaction, boasting a 15,718x return, with its followers. The investor's success story underscores the volatility and potential of memecoin projects while prompting questions about the timing and knowledge behind such trades.

An Investor's Success Story Emerges

Lookonchain reported that the investor initially acquired 4.9 trillion PEPE tokens on April 15, 2023, with an investment of approximately $3,000. Since then, PEPE's value has surged, enabling the investor to sell a portion of their holdings for substantial profits.

The investor sold 1.41 trillion PEPE for $7.4 million and 255 billion PEPE for roughly $2.3 million. Despite these sales, they still retain 3.5 trillion PEPE, valued at around $38.9 million at current prices. Lookonchain data indicates that the investor's total profit stands at $46.3 million.

Questions of Insider Knowledge

However, the purchase date being close to PEPE's launch time has raised questions within the crypto community. Additionally, on-chain data revealed that the investor swapped approximately $2,256 worth of 20,000 Timeless (LIT) tokens for 3.4 trillion PEPE on the same date.

Given LIT's relatively obscure status and a market cap of only $3.6 million, the decision to swap LIT for PEPE at that moment suggests insider knowledge. On April 15, 2023, the LIT token traded at $0.111814, contrasting sharply with its current price of $0.001539. This has further fueled speculation about the investor's possible insider knowledge and highlighted the trade's timely and extraordinarily profitable nature.

Famous Figure Returns

Regardless of the investor's insider knowledge, PEPE has experienced a rapid ascent. CoinGecko data shows that PEPE reached an all-time high of $0.00001151 today, marking its second record high this week. PEPE ranks third among memecoin projects, trailing Dogecoin (DOGE) and Shiba Inu (SHIB), with a market cap of $4.68 billion.

PEPE's recent success can be attributed to renewed interest in meme assets following the return of Keith Gill, also known as Roaring Kitty. Gill, renowned for his role in the GameStop stock frenzy, recently resurfaced on social media, sparking a wave of speculation and investment in memecoins and stocks.