Tales of crypto investors turning a few dollars into millions are not new, but one particular PEPE investor has taken this a step further. This crypto trader was able to turn a $3,000 investment into $46.3 million in the space of a year. Here’s how they did it.
$3,000 In PEPE Turns Into $46.3 Million
In a post on X (formerly Twitter), the on-chain data tracking platform Lookonchain revealed exactly how this crypto trader turned the $3,000 investment into tens of millions of dollars. According to the tracker, the trader had bought $3,000 worth of PEPE tokens on April 15, 2023, which is when the coin launched. The trader received a total of 4.9 trillion tokens in return.
The same year, PEPE would go on a legendary rally, going from under a $1 million market cap to over $1 billion after securing listings from major crypto exchanges such as Binance. At this time, the investor’s stash had risen to more than $10 million. However, the crypto trader would continue to hold their stash and only sell a small portion of it.
Fast forward to May 2024 and the PEPE price has hit multiple new all-time highs. The latest happened this week when the meme coin’s price rose above $0.00001 to cross a $4.5 billion market cap. This move catapulted the trader’s holdings to over $40 million.
Following the price reaching a new all-time high, the crypto trader has begun to take some profit. As Lookonchain’s post shows, the investor recently sold 255 billion tokens for a total of $2.3 million. So far, the trader has sold around 1.4 trillion tokens, leaving them with a balance of 3.5 trillion tokens, which is currently worth a whopping $38.9 million.
In total, this investor has seen a 15,718x return or a 157,718% ROI. Their total realized and unrealized profit from this single trade now sits at $46.3 million at the time of writing.
Is This Crypto Investor An Insider?
Given the timing of the crypto investor’s buys into PEPE when it just launched, it has raised questions of whether this particular investor is an ‘insider’. In other words, some have wondered if this is one of the team members behind the meme coin.
However, others have focused on the sheer grit that it has taken the investor to hold their tokens to this point. One X (formerly Twitter) user points out the fact that the reason the investor was able to make such returns was the fact that they were able to hold, and did not sell early.
Everyone claims ‘insider’ immediately.
Bitches, he spent 3k, and held like a diamond handed king. This is how you become an ‘insider’
You want these kind of gains? You want the ‘inside tip’
Don’t be paper handed jeets. https://t.co/q6R3ksaRdT
— Naka (@Nakameowdough) May 15, 2024
For now, the investor seems to be holding the majority of their coins to wait for better prices. Given that the bull market is expected to continue to unfold this year, it is possible that the PEPE price will continue to rally and reach new all-time highs, which would mean higher gains for this smart investor.