PEPE Investor Turns $3K Into $46M Profit In A Month, Aided By GameStop Rally

A crypto dealer revamped $46 million in revenue in a month from a $3,000 funding in Pepe, helped by a meme coin rally that was sparked by the GameStop saga.

The dealer managed to attain an astonishing 15,718-fold return.

PEPE Units A New ATH As GameStop Determine Resurfaces

On-chain information exhibits the pockets purchased 4.8 trillion PEPE on April 15, which is price greater than $50.9 million at present costs. The dealer then offered 1.41 trillion PEPE for $7.4 million, and at present nonetheless holds 3.5 trillion PEPE.

Earned greater than $46M on $PEPE with solely $3K, a acquire of 15,718x!😱

This tremendous massive winner offered 255B $PEPE($2.3M) for earnings once more after the worth of $PEPE elevated.

He spent solely $3K to purchase 4.9T $PEPE($56M at present) on Apr 15, 2023, and offered 1.41T $PEPE for $7.4M, with 3.5T… pic.twitter.com/VKGxmK9gCt

— Lookonchain (@lookonchain) May 15, 2024

PEPE’s latest rally was boosted by the GameStop saga. Shares for GameStop (GME) surged this week after Keith Gill, the person extensively credited for the GameStop brief squeeze in 2021 and referred to as Roaring Kitty on X, returned to social media after a virtually 3-year absence.

After he resurfaced, PEPE reached a brand new all-time excessive (ATH) of $0.00001156 yesterday. It has since dropped greater than 7%, however is suntil up over 28% on the weekly time-frame. Its worth has additionally greater than doubled in simply the final month.

Funds Proceed To Circulation Into Meme Cash

Cash has surged into the meme coin sector prior to now day, with its market capitalization hovering over 6%. Leaders Dogecoin (DOGE) and Shiba Inu (SHIB) climbed over 5% and eight%, respectively.

Largest meme cash by market cap (Supply: CoinMarketCap)

In the meantime, dog-themed cryptos Dogwifhat (WIF), FLOKI, and Bonk (BONK) all recorded 24-hour positive aspects as properly. Ebook of Meme (BOME) was one of the best performer after its worth skyrocketed greater than 22% prior to now 24 hours.

Historic chart patterns counsel the 2021 altcoin rally began proper after the GameStop rally in that yr, analyst CryptoAmsterdam mentioned in a Could 14 post on X. If historical past repeats itself, the altcoin and meme coin markets might surge within the coming weeks.

This might have a constructive affect on meme coin presales as properly. Amongst sturdy candidates to profit as buyers search the following 100x crypto are the multi-chain Dogeverse, which has already raised greater than $15 million and is now providing a final probability to purchase earlier than itemizing.

A brand new Solana meme coin referred to as Sealana has simply blasted previous $1 million, whereas AI-powered meme coin WienerAI is now inside touching distance of $2 million in funds raised. 

Associated Articles: