An informed cryptocurrency trader would have transformed $ 2,000 in more than $ 43 million by investing in the same Pepe in its maximum valuation, despite the extreme volatility of the token and the lack of underlying technical value.
The merchant made a return on investment of more than 4,700 times on the popular cryptocurrency on the theme of the frog (PEPE), according to the Blockchain Intelligence Lookonchain platform.
“This OG spent only $ 2,184 to buy $ 1.5T PEPE ($ 43 million at the top) at the start. It sold 1.02 T $ PEPE for $ 6.66 million, leaving $ 493B PEPE ($ 3.64 million), with a total profit of $ 10.3 million (4718x), Lookonchain wrote in a March 29.
Source: Lookonchain
The merchant has achieved more than $ 10 million in profits despite the price of PEPE by more than 74% of its summit of $ 0.00002825, which it achieved on December 9, 2024, show the data from Cointelegraph Markets Pro.
PEPE / USD, graphic of all time. Source: Cointelegraph Markets Pro
Samecoins are considered as some of the most speculative and volatile digital assets, with prices action largely focused by online enthusiasm and social feeling rather than fundamental utility or innovation.
However, they turned out to be able to generate yields that change their life. In May 2024, another early Pepe investor transformed $ 27 into $ 52 million – a return of 1.9 million times – according to ONCHAIN data.
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Even steals the projectors with altcoins
Despite their intrinsic lack of utility, same continued to steal the spotlights of the more established cryptocurrencies, told Cointelegraph Stella Zlatareva, editor-in-chief of Digital Asset Investment Platform, Nexo, told Cointelegraph:
“High volatile tokens, that is to say fly the spotlight.
Top 100 cryptocurrencies, weekly performance. Source: Cryptobble
Although the demand for mecoin investors has increased, it can also siphon capital from more established assets. For example, Solana (soil) has dropped more than 51% since the launch of Trump’s official token (Trump) in January, according to Cointtelegraph data.
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Evencoins “does not tend to attract a lot of external capital flows; Instead, the “logs” of the existing ecosystem from one meme to another, “said Dan Hughes, founder of the decentralized Radix funding platform, at Cointelegraph, adding:
“Even in the case of Trump, most of the incoming liquidity was an exit from other crypto assets, people selling their crypto portfolio to buy Trump in the extreme Fomo [fear of missing out]. “”
Floor / USDT, graphic at 1 day. Source: Cointelegraph /Tradingview
Insider scams and fraudulent activities tormented the same industry, and American regulators take note. On March 5, New York legislators presented a bill to protect cryptography investors from carpet prints and similar initiates scandals shortly after the scandal around the balance token (balance), which was approved by Argentinian president Javier Milei.
https://www.youtube.com/watch?v=2exstn1krcu
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