Trader Made $42M Profit in One Year: How Meme Coins PEPE & ONDO Fueled His Fortune!

Trader Made $42M Profit in One Year: How Meme Coins PEPE & ONDO Fueled His Fortune! appeared first on Coinpedia Fintech News

A savvy trader has captured the attention of the crypto world with his remarkable success in meme-based cryptocurrency investments. In just one year, his portfolio grew from $23 million to $65 million, earning him a staggering $42 million!

Amidst the ongoing bull run fueled by Pepe coin, a popular frog-themed meme cryptocurrency, this trader's impressive gains have become the talk of the town. But the story doesn't end there. Alongside Pepe coin, the trader also made significant profits trading ONDO, the governance token of Ondo DAO.

Savvy Trader Made Profit From PePe & ONDO

According to Lookonchain, a leading blockchain analytics platform, a savvy trader achieved remarkable success through meme coin trading, specifically with Pepe Coin (PEPE). The trader purchased 3.97 trillion PEPE tokens with 2,434 Ethereum (ETH) between November 2, 2023, and February 1, 2024.

2/ He spent 2,434 $ETH($5M) to buy 3.97T $PEPE from Nov 2, 2023, to Feb 1, 2024.Then sold 125B $PEPE for 350 $ETH($1.27M), with 3.84T $PEPE($56.43M) left.The profit is $60M, with an ROI of 1203%.He is very smart and sells at a high price every time. pic.twitter.com/veXvM0DMvl

— Lookonchain (@lookonchain) May 24, 2024

Utilizing smart selling strategies, the trader maximized profits from PEPE by timing sales to high prices. He sold 125 billion $PEPE tokens for 350 ETH, worth $1.27 million while keeping 3.84 trillion PEPE tokens valued at $56.43 million.

Lookonchain's data revealed that the trader's profits from PEPE alone amounted to $60 million, representing an impressive 1203% return on investment (ROI). This shows a trader's skill in navigating market changes and capitalizing on profitable selling opportunities.

ONDO DAO Token Trading

Further expanding their portfolio beyond Pepe Coin, the trader also found success with ONDO, the governance token of Ondo DAO. Meanwhile, purchasing 7.55 million ONDO tokens for $1.9 million, the trader executed strategic sales, pocketing $5.8 million in profits.

Lookonchain's analysis reveals that the trader's ROI from $ONDO reached an impressive 288%, further underscoring their trading prowess.

PEPE, and ONDO Price Movements

As of now, the PEPE coin price shows signs of a pullback, dipping 2.66% in the past 24 hours to $0.00001379. Notably, PEPE recently hit a new all-time high (ATH), defying broader market trends.

In contrast, ONDO's price surged to $1.10, reflecting an 11.29% increase in the past 24 hours. Its trading volume jumped 120%, bringing its market cap to $1.5 billion.