An experienced crypto trader and wealthy investor is making headlines for raking in substantial profits from trading meme token Pepe (PEPE).
According to blockchain tracking firm Lookonchain, an unidentified trader transferred 427 billion Pepe tokens valued at $8.5 million to US-based crypto exchange Kraken for potential sale on the open market.
Currently, the trader still holds one trillion PEPE worth $18.4 million, indicating a profit of approximately $2 million.
Lookonchain reports that the same trader previously earned millions by selling all their Pepe holdings during a market correction in December. After accumulating over one trillion Pepe tokens between March and September 2024, the trader reacquired more than one trillion PEPE in late December when the memecoin’s price stabilized.
Quoting Lookonchain,
“This astute whale liquidated all their PEPE holdings during the market downturn on December 19th, resulting in a total profit of $11.7 million on PEPE! In the six days following the market dip, the whale amassed 1.42 trillion PEPE ($24.5 million) once again.”
Currently, Pepe is trading at $0.000018, reflecting a 4.2% decline in the last 24 hours. With a market cap of $7.5 billion, Pepe ranks as the 29th-largest cryptocurrency project.
Stay Updated – Subscribe to receive email alerts directly to your inbox
Monitor Price Movements
Follow us on X, Facebook, and Telegram
Explore The Daily Hodl Mix
Image Credit: Midjourney
