Crypto Whale Turns $70 into $7 Million With This Memecoin
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As Bitcoin surged past the $100,000 mark, driving the broader cryptocurrency market to new heights, a major crypto whale also made significant moves.
This investor, an early backer of the PEPE memecoin, capitalized on the rise by selling off a substantial portion of their holdings.
Data from Lookonchain reveals that the whale offloaded the remaining 2.61 trillion PEPE tokens, which had originally been purchased for just 0.035 ETH (roughly $70).
The tokens were transferred to the Kraken exchange, where their current market value has soared to $57 million. In a notable transaction, the whale sold 189.4 billion PEPE tokens for a total of $4.15 million.
Despite not fully cashing in on the peak value of their investment, the whale has seen an extraordinary return of around 100,000 times their original investment.
The total profit from these transactions is estimated at $7 million, highlighting the massive potential of early cryptocurrency investments.
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