How PEPE Trader Turned $27 Investment into $52 Million

Bittime - An anonymous trader who managed to turn a small investment of $27 (around IDR 435 thousand) into a fantastic profit of $52 million (around IDR 838 million) via the Pepe meme token. How could he do it? Here's the review.

This extraordinary incident was revealed by the blockchain analytics company, Lookonchain, on December 14. This is a major highlight among crypto investors. According to the report, this unknown trader holds 2.1 trillion tokens PEPE for 600 days before finally transferring to a new address. 

“From $27 to $52 million — an incredible return of 1,900,000 times,” said Lookonchain. Even though meme tokens like $PEPE have no intrinsic value, they have created many new millionaires among crypto investors.

This story is not the first. Last May, another smart trader managed to turn an investment of $3,000 (Rp. 48 million) into $46 million (Rp. 740 billion) by trading Pepe tokens, which meant getting a return of more than 15,700 times.

$PEPE Performance and Memecoin Trends

Since the start of the year, the Pepe token has shown impressive performance, with a rise of more than 1,600%, making it one of the best-performing cryptocurrencies in 2024. 

Behind it, Solana-based meme token Dogwifhat (WIF) skyrocketed 1,400%, placing it in third place. However, the Mantra (OM) token recorded a remarkable growth of more than 16,600% this year, according to Cryptobubbles data.

Read also: $PEPE Price Prediction in 2025: Bullish or Bearish Flop?

Although technical analysis is often inaccurate for memecoins, some crypto traders are optimistic about the potential for further upside for Pepe. Max Schwartzman, CEO of Because Bitcoin, even called Pepe the Dogecoin of the current bull cycle, asserting its position as the “king” among memecoins.

The Memecoin Phenomenon and the Young Generation

The success of memecoins like Pepe can be seen as a response from the younger generation to disillusionment with the existing financial system. 

Hao Yang, head of financial products at Bybit, argues that memecoin's success reflects the dissatisfaction of young investors who see the opportunities their parents had dwindling. 

“We can see the success of memecoin as a movement, similar to punk rock, that reflects the disillusionment of the younger generation,” he said in an interview with Cointelegraph.

However, keep in mind that memecoin trading is very volatile. In the crypto market liquidation worth $1.7 billion (Rp. 27.4 trillion) on December 10, several of the top memecoins actually became the tokens with the worst performance.

Read also: Pepe Coin (PEPE) Price Prediction 2024: How much can it increase by the end of the year?

FAQ About Pepe

What are Pepe tokens?

Pepe Token is a type of memecoin inspired by the character Pepe the Frog, which became popular on the internet. Despite having no obvious utility, this token is attracting a lot of attention among traders.

Why are memecoins like Pepe so popular?

Memecoins often offer the potential for high profits in a short period of time, despite significant risks. Its popularity is also driven by online communities and social media trends.

How to buy Pepe tokens?

Pepe tokens can be purchased on various cryptocurrency exchanges that support trading of memecoins. Make sure to use a trusted and safe exchange.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference 

BC News, Crypto trader turns $27 into $52M with savvy Pepe token investment, accessed December 26, 2024.

Cointelegraph, Crypto trader turns $27 into $52M with savvy Pepe token investment, accessed December 26, 2024.

Author: Y