Pepe Coin (PEPE) has surged to new heights, hitting a new all-time high. This milestone comes amid a wave of bullish momentum in the cryptocurrency market, with PEPE making significant gains in both spot and futures trading. In addition, Pepe Coin flipped Polygon (MATIC) amid the price rally. Moreover, a smart trader bagged an 867% profit amid the recent rally.
Smart Trader Bags Massive Profit From PEPE Sale
A savvy trader has capitalized on the soaring Pepe Coin price, turning an initial investment of $250,000 into a staggering $2.42 million. According to Lookonchain, a blockchain tracking avenue, the trader purchased 160.62 billion PEPE tokens on December 6 and 7, 2023.
This strategic acquisition paid off handsomely when the trader sold all holdings for 644 ETH, valued at approximately $2.42 million. Hence, the whale realized a profit of around $2.17 million. This impressive feat represents an 867% return on investment (ROI).
Additionally, the same trader demonstrated clever trading with investments in Pepe Coin derivatives. They spent $25,000 on 139,822 Pepe Coin futures on December 6, 2023. By selling a portion of these holdings 25,000 coins for 30.27 ETH, equivalent to $113,000, the trader secured a substantial profit.
Moreover, the remaining 114,822 Pepe Coin futures are currently valued at $574,000. This brings the total profit on these positions to $663,000 and an extraordinary ROI of 2651%. In addition, in the past three hours alone, two newly created wallets withdrew a combined total of 182.7 billion PEPE.
The transactions were worth approximately $3.1 million, from the OKX exchange. Such substantial withdrawals often indicate confidence in the asset’s future performance or preparation for large-scale trades or sales.
Pepe Coin Price
The Pepe Coin price continued trading in the green amid the bullish sentiment in the market. As of writing, the PEPE price surged 12.35% to $0.00001692 on Monday, May 27. Whilst, the Ethereum-based meme coin’s market valuation stood at $7.19 billion. Whilst, the 24-hour trading volume surged 98.75% to $3.10 billion.
The Pepe Coin price attained a fresh ATH of $0.00001718 today. According to Coinglass, the PEPE futures open interest reached a record $196.47 million, marking an 18.19% increase in the last 24 hours. This robust performance has propelled Pepe Coin to become the 18th largest crypto by market capitalization, surpassing Polygon (MATIC).