A Crypto Trader Bets $2,000 On PEPE And Hits The Jackpot Of 43 Million

A savvy crypto investor made a profit of 10 million dollars after investing only 2,000 $ in the memecoin PEPE. His position reached a peak value of 43 million dollars before he decided to secure his gains.

A spectacular investment success in the crypto universe

On March 29th, the blockchain analysis platform Lookonchain revealed that an experienced trader had precisely invested 2,184 $ to acquire 1.5 trillion PEPE tokens during the early days of crypto. This initial investment transformed into a fortune reaching 43 million dollars at the market’s peak.

This trader, referred to as an “OG” (Original Gangster) in the crypto sphere, demonstrated remarkable strategic intelligence. He sold 1.02 trillion of his tokens to pocket 6.66 million dollars, while retaining 493 billion PEPE, valued at approximately 3.64 million dollars.

In total, this move allowed him to achieve a profit of 10.3 million dollars, representing an investment return multiplied by 4,718.

This impressive performance is all the more notable as the price of PEPE has dropped by more than 74% since its all-time high of 0.00002825 $ reached on December 9, 2024.

Memecoins, between extreme speculation and exceptional returns

Memecoins represent a particularly volatile category in the crypto ecosystem. Unlike traditional cryptocurrencies, their value primarily relies on community enthusiasm and social sentiment rather than technical utility or a concrete project.

Despite this characteristic, these digital assets continue to attract investors seeking extraordinary returns. In May 2024, another early Pepe investor turned a small investment into 52 million dollars, achieving a return multiplied by 1.9 million according to on-chain data.

This trend is also observed in the recent performances of the market. Stella Zlatareva, editor-in-chief of the investment platform Nexo, emphasized:

high beta tokens, that is to say volatile, steal the show. For example, memecoins surged by 5.6% on average, with DOGE, PEPE, and FLOKI reacting to the optimism induced by the drop in rates and the general strength of cryptocurrencies.

However, the enthusiasm for memecoins is not without consequences for the broader market. Dan Hughes, founder of the decentralized finance platform Radix, noted that these tokens do not necessarily attract new capital into the crypto ecosystem but rather cause a rotation of existing investments from one memecoin to another.

The meteoric success of some traders should not overshadow the major risks associated with this class of assets. The recent collapse of the Trump memecoin, which ruined 813,000 investors, perfectly illustrates these dangers despite some success stories.