The Ethereum-based Pepe (PEPE) meme coin is making waves in the crypto market with massive gains in recent weeks, making smart money millionaires.
Since its launch, the meme coin has surged more than 1000% to new all-time highs and is now among the top 100 crypto assets by market capitalization, according to Coingecko.
Pepe prints millionaires
On chain analyst Look at chain reported three addresses that made more than $1 million trading PEPE.
Lookonchain said the first address bought 5.4 trillion PEPE tokens with 1 ETH ($2,100). This address sold 3.42 trillion PEPE for 929 ETH on April 30, generating a profit of $1.77 million.
Meanwhile, the exact address still holds 2 trillion PEPE units worth $2.37 million.
Another trader, dimethyltryptamine.eth, bought 5.9 trillion PEPE for 0.125 ETH ($215). The address later sold 2 trillion PEPE for 560 ETH ($1.06 million) and still holds 3.9 trillion tokens worth $2.37 million.
Meanwhile the last address entered the market late, spending 2.3 ETH ($4,822) worth 4.22 trillion PEPE. The transaction has become a profit after selling 3.22 trillion PEPE for 670 ETH ($1.3 million), with the remaining stake being valued at ($1.18 million).
More than 50 addresses contain more than $1 million in PEPE
Blockchain analytics company Arkham Intelligence reported that more than 50 addresses contain more than $1 million worth of PEPE.
According to the company, one of the first buyers of the memecoin was the deployer wallet that spent $2 on 195 billion PEPE tokens. The wallet sold these tokens a week later for 22.94 ETH – $42,200 – and could have made a lot more if it had been patient.
Some wallets also made one significant profit on another meme token launched within the same period, WOJAK. cryptolei data shows it reached an all-time high of $0.000451 after rising 123.2% in the past 24 hours.
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