Crypto Trader Returns After Ten Months of Inactivity, Making Millions In Market Crash

Crypto Market Witnesses Major Price Drops, Meme Coins Take the Biggest Hit

Due to a decline in investor sentiment, the cryptocurrency market has plummeted, resulting in significant price drops across all cryptocurrencies. Starting with Bitcoin's fall to $56,382, altcoins have also faced severe challenges.

Amidst the decline, selling pressure has intensified as crypto traders seek to secure any possible gains. The fear of Bitcoin's further decline has sparked concerns of a potential bear market.

In this bear market, meme coins have suffered the most significant losses, with their market cap plummeting by 7.76%. One previously inactive crypto trader has re-entered the market, selling meme coins and generating millions despite the overall market downturn.

Crypto Trader Makes $112K from PEPE

Crypto whale 0x4a2 ("dimethyltryptamine.eth") returned to the crypto market after a ten-month absence, exchanging the PEPE token to secure remaining profits. The trader exchanged 10B PEPE, valued at $112K, for 32.73 ETH at a price of $0.0000112118.

The crypto trader had held these PEPE tokens since April 14, 2023, shortly after their launch.

Pepe Coin Hype Fades

These recent transactions indicate that the hype surrounding Pepe Coin is waning and may not recover in the near future. The crypto trader still holds 1.99T PEPE, worth $22.35M, representing a staggering 59,600% return on his investment.

Crypto Trader's Portfolio

Whale 0x4a2's portfolio consists predominantly of the following five cryptocurrencies: PEPE, WOJAG, MOG, ETH, and USDC. The largest holding is PEPE, with 1.99T worth $22.348M. The second-largest holding is the meme coin WOJAK, with 711.739M ($759.532) held, followed by 147.5B MOG ($238.935K), another popular meme coin. Additionally, the trader holds 2.72 ETH ($9.813) and 6,000 USDC, a stablecoin valued at $6,000.

The trader's substantial holdings in meme coins highlight their continued popularity. Meme currencies have experienced significant growth this year, leading the list of top gainers.