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Investor makes $70 to $70 million thanks to this memecoin
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The cryptocurrency market, especially during high times, is the best place to obtain returns well above expectations. Here, traders can become millionaires by trading the right memecoins at the right time, like this trader. By investing US$70 in the PEPE memecoin, he built a fortune of no less than US$70 million.
However, the same opportunities can turn disastrous, causing investors to lose a large portion of their investments. This is what happens to those who bet on projects that turn out to be frauds or scams.like the HAWK token, which collapsed 90% after a scam last week.
In 2023, PEPE’s investor bought US$70 worth of memecoin well before it became a phenomenon. Almost two years later, the small capital already represented a fortune of US$7 million in two years with the PEPE token.
In an impressive experience, the trader separated 0.035 Ether (ETH) into PEPE long before memecoin gained its fame. The trader sold part of his tokens during this period, so his accumulated capital made him a millionaire.
From US$70 to US$7 million
The frog-themed token has topped the list of popular meme coins for years. However, demand grew further in 2024 when it formed several price spikes. With his purchases, the trader now holds 2.61 trillion PEPE.
In total, the trader’s cash in PEPE is even more valuable, corresponding to US$58.7 million in current values. By selling part of the tokens, he pocketed a profit of US$7.06 million, according to Lookonchain.
THE The cryptocurrency investor’s most recent transaction was the deposit of 189.4 billion PEPE ($4.15 million) on Kraken on December 5, 2024. But with the sale made, the investor made a 100,000-fold profit on this US$70, surprising the cryptocurrency trading community.
According to CoinGecko, PEPE is the 20th largest cryptocurrency by market value, with around US$10.59 billion. In the last 12 months alone, its price has increased by 1,401%. Just 9 hours ago, PEPE recorded a new all-time high following its launch on Binance in the United States.
Interestingly, just in the last few days, Lookonchain revealed two more cryptocurrency investors with high returns. One invested $241,500 and profited $7.53 million after holding his token for a year. Another trader made $1.31 million in profits after selling 240 billion PEPE.
Memecoins have become the biggest attraction for the cryptocurrency trading industry in 2024. However, some memecoin scams are also repelling new cryptocurrency investors.
Investor makes $70 to $70 million thanks to this memecoin
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Investor makes $70 to $70 million thanks to this memecoin
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Investor makes $70 to $70 million thanks to this memecoin
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Investor makes $70 to $70 million thanks to this memecoin
