1,503x Profit: How A Memecoin Trader Made $13 Million With PEPE

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As a seasoned trader who has closely followed the memecoin market, I’ve seen my fair share of successes and losses. The story of James Wynn, a memecoin investor who made over $12 million in profits with PEPE, is truly inspiring.

An astute trader has reaped substantial rewards, earning a thousandfold return on his investment in PEPE. Even amidst the current downturn in the frog-themed token market, this investor in memecoins has amassed millions of dollars in profits. Likewise, large investors, referred to as “whales,” have been actively purchasing more PEPE as it regains its upward trend.

Memecoin Trader Makes Millions

Based on Lookonchain’s information, James Wynn saw a significant return on his PEPE investment, which amounted to approximately 1,503x the initial cost. He initially purchased 2.83 trillion PEPE tokens for around $8,524. As the token began to surge in value, Wynn decided to cash out a portion of his holdings, selling over half, totaling 1.81 trillion tokens, for approximately $4.57 million.

jwynn.eth(@JamesWynnReal) – A smart trader who made $12.8M(1,503x) on $PEPE.
He also traded $BOBO and $ANDY recently, making another $818K!
1/ Let’s dig into his trades.
— Lookonchain (@lookonchain) April 24, 2024

I’ve witnessed firsthand the explosive growth of the frog-themed memecoin in the marketplace. Consequently, my unrealized profits on my remaining PEPE stash have skyrocketed. At present, I hold a total of 1.02 trillion PEPE coins spread across three wallets, translating to a value of approximately $8.25 million.

The trader made a profit of $12.8 million from selling their PEPE tokens. But if they had kept holding, their profits would have been over $20 million.

According to recent findings on the blockchain research platform, Wynn’s accomplishments don’t stop at PEPE. He has generated over $800,000 in profits from trading other memecoins during the past week. Among his latest purchases are five tokens, and two of them continue to bring profits: BOBO and ANDY.

In the given report, the trader purchased approximately 273.62 billion BOBO units at a cost of $138.263 each. This transaction yielded a profit of around $430,000. Likewise, he obtained over 4.711 billion ANDY units for about $115.493 per unit. This deal generated a profit worth approximately $338,000.

Despite achieving profits worth over $13.7 million from nine memecoins, Wynn’s trading strategy did not yield positive results for all his trades. The X post reveals that the trader had a success rate of 45%, meaning eleven tokens resulted in losses amounting to approximately $350,000, including some instances of rug pulls.

1,503x Profit: How A Memecoin Trader Made $13 Million With PEPE

Whales Go On PEPE Buying Spree

According to NewsBTC’s latest report, a decrease in PEPE‘s price during the past month resulted in fewer holders enjoying profits. Yet, large investors, known as whales, have continued to amass PEPE tokens.

This week, a whale purchased approximately 211.6 billion PEPE tokens from Binance, Gateio, and Uniswap. The cost for these tokens amounted to around $1.54 million, with an average price of $0.000007291 per token. Subsequently, the value of the tokens rose by 17% in a short time frame, resulting in a profitable investment.

Based on Spot On Chain’s data, the value of the holdings increased to $1.72 million, resulting in approximately $173,000 in potential profit. Meanwhile, according to other sources, large investors, referred to as “whales,” have persisted in purchasing and selling their PEPE tokens, generating profits from their PEPE investments.

Despite a significant decrease in trading activity for PEPE‘s token, with a 22.1% drop over the past 24 hours and a daily trading volume of $1.2 billion, its market capitalization has also seen a decrease of 1.58%.

Despite a setback, the token has recovered and maintained its position as the third largest memecoin based on this metric. In contrast, dogwifhat (WIF) experienced a significant loss of 13.88% of its market capitalization within the last day. It’s important to mention that WIF surpassed PEPE on March 28 and gained popularity in the crypto market as a new sensation.

I’ve noticed that as of now, PEPE is being traded for approximately $0.000007821. This marks an 11.4% decrease from its monthly value. However, there’s a silver lining as the token has shown remarkable growth over the last seven days, surging by 52.2%.

1,503x Profit: How A Memecoin Trader Made $13 Million With PEPE

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2024-04-25 21:40