Meme coins, like Pepe (PEPE), have the potential to undergo substantial price surges within a short timeframe, providing advantageous opportunities for astute traders who strategically enter the market.
Lookonchain, a cryptocurrency analytics tool, has uncovered a situation where a trader acquired 170.2 billion PEPE coins in October of the previous year and subsequently sold them for 1.97 million USDC on July 25th.
The return on investment (ROI) is remarkable, standing at 886%, resulting in a total profit of $1.77 million. The trader exchanged more than 100 billion PEPE tokens for $1.16 million in USDC and turned the remaining tokens into $812,000 worth of the stablecoin.
Several users characterized the decision as prudent; however, some pointed out that the return would have been greater if the trader had sold their assets two months earlier. The price of PEPE reached a record high of approximately $0.00001699, but it is presently trading at $0.00001171, indicating a 30% decrease.
Another individual who participated in the sector purchased more than 48 billion SHIB tokens in January 2021 for 2 ETH. They then sold these tokens in May this year for over 280 ETH, which is equivalent to more than $1.2 million.
One individual invested a mere $310 by the end of 2023 to acquire 2.5 million dogwifhat (WIF) coins, resulting in a potential profit of more than $6 million if they choose to sell their holdings.
