One of PEPE’s early adopters is officially out after making over $1.7 million in profit, translating to a 54,725x gain in less than six months. In a tweet shared by Lookonchain on August 26, the meme coin trader bought 1.69 trillion tokens, spending roughly $36, minutes after the project was launched in late April 2023. However, by the time the trader exited, less than six months later, selling off all his tokens, he had realized a decent gain, raking in 1,001 ETH, or roughly $1.7 million at spot rates.
PEPE Whale Exits
Trackers reveal that the trader first sold 0.69 trillion before fully exiting and liquidating 1 trillion PEPE on August 26, pocketing $885,000 or 537 ETH, pushing his total haul to 1,001 ETH. Considering the pseudonymous nature of Ethereum from where PEPE started trading through Uniswap v3, the trader’s identity cannot be ascertained.
PEPE is one of the more successful meme coin projects in 2023. The token’s meteoritic rise–and crash–over the past couple of months illustrates its volatility. For the project’s early success and popularity, because of traders buying in and aiming to ride the trend mainly because of fear of missing out (FOMO), PEPE ended up being listed on several