The popular meme coin PEPE on Ethereum reached a new all-time high yesterday, with a market value surpassing $5.3 billion, ranking it among the top 30 cryptocurrencies. According to data monitoring team Lookonchain, a PEPE trader who bought PEPE for $83 in the early days now holds assets worth $79.4 million.
Yesterday, as the US SEC released positive news regarding the Ethereum spot ETF review, the overall cryptocurrency market experienced an uptick. Among them, the meme coin PEPE, which has repeatedly hit new historical highs this year, showed significant strength. This morning, it once again reached a new all-time high of $0.0000134, rising over 25% in the past 24 hours, and its market value reached $5.83 billion, ranking 21st in the overall cryptocurrency market.
PEPE trend. Image source: CoinMarketcap
A PEPE trader earns tens of millions of dollars
In this context, according to data monitoring team Lookonchain, a PEPE trader who purchased PEPE coins for only $83 now holds assets worth $79.4 million, with an astonishing return of 958,580 times (assuming that the wallet’s unrealized gains have exceeded $89 million given the current higher PEPE price compared to last night). However, it is worth noting that some community members speculate that this wallet may be controlled by the issuer of PEPE. The true nature of the situation is currently unclear. Nevertheless, for PEPE investors, paying attention to the fund movements of this wallet may help understand whether PEPE will face market sell-offs.
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