Pepe Coin (PEPE) has experienced a remarkable rise, reaching a new peak. This accomplishment coincides with a surge of positive energy in cryptocurrency, as PEPE has seen notable gains in spot and futures trading. Pepe Coin also reversed Polygon (MATIC) during the price surge. In addition, a shrewd trader profited by 867% during the current surge.
Wise Trader Secures Huge Profit From PEPE Transaction
An astute trader has profited from the skyrocketing price of Pepe Coin, increasing a $250,000 initial investment to an astounding $2.42 million. A blockchain tracking source called Lookonchain claims that on December 6 and 7, 2023, the trader bought 160.62 billion coins.
When the trader sold all assets for 644 ETH, or around $2.42 million, this calculated acquisition paid off handsomely. The whale made almost $2.17 million in profit, which translates into an ROI of 867%.
The same dealer also showed off astute trading by investing in Coin derivatives. On December 6, 2023, they invested $25,000 in 139,822 Pepe Coin futures. The trader made a significant profit by selling 25,000 coins, or 30.27 ETH, for $113,000, a fraction of these holdings.
Furthermore, the current value of the remaining 114,822 Coin futures is $574,000. This results in a fantastic ROI of 2651% and a total profit of $663,000 on these bets. Furthermore, two newly established wallets have taken out 182.7 billion in the last three hours alone.
The transactions from the OKX exchange were valued at almost $3.1 million. Significant withdrawals frequently reflect optimism about the asset’s future performance or readiness for essential purchases or sales.
Pepe Coin Value
Amidst the optimistic outlook in the market, the price of Coin kept rising. As of this writing on Monday, May 27, the cost had increased by 12.35% to $0.00001692. Meanwhile, the market capitalization of the meme coin built on Ethereum was $7.19 billion. Meanwhile, the $3.10 billion 24-hour trade volume increased by 98.75%.
Today, the price of Coin reached a new all-time high of $0.00001718. According to Coinglass, the futures open interest increased by 18.19% in the last day to a record $196.47 million. Because of its strong performance, Pepe Coin has surpassed Polygon (MATIC) to become the 18th largest cryptocurrency by market capitalization.
