The altcoin market has been following Pepe Coin, which has suddenly rallied 150% on the daily timeframe for the past two weeks. The meme coin, which debuted in mid-April, quickly made a handful of early investors millionaires. A $2,000 Pepe Coin investment exceeded $1 million within days…
Pepe Coin reaches the top 100 biggest altcoins
According to data from CoinGecko, PEPE is currently among the top 100 cryptocurrencies. Yesterday, OKX’s announcement that it will list Pepe Coin added 110% to the momentum of recent weeks.
PEPE’s journey over the last two weeks has been quite interesting. Most startup cryptocurrencies with odd histories see rapid fluctuations and equally rapid declines, mostly due to a perceived lack of seriousness. However, this is not the case for PEPE. Despite yielding over 210x, it continues its bull run.
PEPE gained another 2x on May 1 and is currently trading near the ATH level. Market players are turning to Pepe in hopes of getting rich, and so far many have been successful. Investors who bought early saw remarkable returns.
Pepe Coin made these investors millionaires in days
According to data compiled by on-chain research ‘Lookonchain’, three successful traders sold a portion of their PEPE investments amid rapidly rising prices. Lucky investors made more than $1 million in profits in just two weeks.
One of them bought 5.42 trillion PEPE with 1 ETH (worth $2,100). He then sold 3.42 trillion PEPE for 929 ETH (worth $1.77 million). The investor still has 2 trillion PEPE (worth $2.37 million) and will make a profit of 4.14 million if he sells his entire wallet.
https://twitter.com/lookonchain/status/1653009380420489216
The second trader bought 4.22 trillion PEPE with 2.3 ETH (worth $4,822). He then sold 3.22 trillion PEPE for 670 ETH (worth $1.3 million). It currently still holds 1 trillion PEPE (worth about $1.2 million). If this trader wants to dispose of all his PEPE investments, he will make a profit of $2.47 million at the current price.
Third, ‘dimethyltryptamine.eth’ bought 5.9 trillion PEPE with 0.125 ETH (worth about $251). He then sold 2 trillion PEPE for 560 ETH (worth $1.06 million). This investor still has 3.9 trillion PEPE (worth $2.37 million). Selling all of them, he makes a profit of about 5.67 million, thus becoming the third largest Pepe investor.
Altcoin investors await additional earnings with new exchange listings
A key factor in action in the price of PEPE this week is its listing on several cryptocurrency exchanges. So far, the largest centralized exchanges like Huobi, Gate.io, and MEXC have opened their listings.
Recently, OKX announced the listing of PEPE on its spot trading markets with PEPE/USDT pairs. The disclosure has managed to fuel its upward trajectory. Pepe price has gained over 100% with the OKX listing, with most traders now expecting a major correction.
https://twitter.com/okx/status/1652900822546628609
As Kriptokoin.com, we have mentioned that Pepe Coin has been recording triple-digit rallies for a while. Today, the price is down around 7%, but it has largely managed to stay close to the ATH level.
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