A crypto trader with a soft spot for meme coins has made about 38.675% gains on a new competitor to Dogecoin (DOGE) and Shiba Inu (SHIB), according to on-chain data.
According to blockchain tracker Lookonchain, the trader purchased four trillion of the Pepe (PEPE) meme coin at a price of 2.1 Ethereum (ETH) worth $4,410 at the time.
Look at chain say that a large portion of the four trillion Pepe was sold leaving a balance of less than one trillion — all of which translates into a combined realized and paper profit of more than $1.705 million.
“A SmartMoney bought 4 trillion PEPE in the amount of 2.1 ETH ($4,410) and made about $1.71 million!
And this man also traded a lot of MEME coins.
The SmartMoney discovered PEPE and spent 2.1 ETH ($4,410) to buy four trillion PEPE six hours after PEPE was launched.
After each PEPE price increase, he sold part of PEPE instead of selling them all.
He sold a total of 3.27 trillion PEPE for $906,000 and currently has 700 billion PEPE worth $808,000.
PEPE is trading at $0.000000938926 by market cap at the time of writing and ranks as the 106th largest crypto asset.
According to the on-chain data tracker, the trader who mainly trades on the Ethereum blockchain also has netted triple-digit gains on two other lesser-known meme coins.
“This smart money has transactions on almost every chain and 97% of its assets are on Ethereum.
He also bought BULL at $0.00075, now at $0.0045, representing a 500% increase.
And bought BABYPEPE at $0.00000000024, now at $0.00000000123, which is a 415% increase.
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Image generated: Midway through the journey
