The PEPE token has taken the lead in gains among the meme coins for years now. Although it had its share of struggles, the Pepe coin price performance has equipped crypto investors with heavy returns. One such investor made $11.7M recently, showcasing the token’s high profit potential. Let’s discuss what’s happening.
Crypto Investor Made $11.7M With PEPE Token’s Downtrend
According to Lookonchain, a popular analytics page on X, a crypto investor made incredibly heavy returns in Pepe Coin. Interestingly, all this happened when the PEPE token was in a dip, shocking every reader. The crypto user has been holding millions of this frog-themed coin and dumped them when the PEPE price began to decline after it hit the ATH of $0.00002825 around three weeks ago.
With that, the crypto investor made $11.7M in profits, which could have been higher if he had not missed the ATH. Regardless, Pepe Coin’s price performance has helped investors make heavy returns. Interestingly, he is still busy accumulating more PEPE. In the last week alone, he has spent $24.5M to buy 1.42T PEPE, continuing his profit-making journey with this frog-theme meme coin.
Interestingly, this is not the first person who has made heavy returns with PEPE. Another PEPE trader made millions after turning $70 into $7M over the PEPE’s impressive price performance.
PEPE Token’s Bullish Returns, Price Surged 4% Today
Pepe Coin has become one of the most profitable meme coins ever since the beginning of the year due to its constant surges. With that, he achieved multiple all-time highs within the year, and the most recent was just 19 days ago. However, a downtrend began right after that, pushing the PEPE price 35% away, currently trading at $0.00001829 after a 4% surge in the last 24 hours.
Interestingly, this happened with the rising investor interest. Earlier, the PEPE’s trading volume peaked at $2.13 billion, indicating high investor activity and whale buying. Furthermore, the technical indicators show a strong buying zone, which could propel the PEPE price higher and out of this slump.
What’s In There For You?
Considering meme-themed cryptocurrency performance this year, many crypto investors turned bullish, with high returns. As a result, 2024 has become the year of meme coins, which users can consider buying after running proper technical analysis and market research. In today’s case, Pepe Coin is gaining strength on the charts after hitting ATH just a few weeks ago. Now, it has to see if the PEPE token will continue to benefit investors or if the PEPE price will struggle with a market dip.
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