- A $3K investment in Pepe grows to $73 million, with 96% of holders reporting profits.
- PEPE trading volume hits $13.96 billion as thousands of new addresses join the market this week.
As a seasoned analyst with over two decades of experience in the financial markets, I must admit that I’ve never witnessed such a meteoric rise as that of Pepe [PEPE]. The sheer scale and speed at which this memecoin has garnered attention is nothing short of astounding.
At this moment, I find myself looking at the current price of Pepe [PEPE] which stands at $0.00002523. Over the last 24 hours, a trading volume worth $13.96 billion has been exchanged. Despite a minor setback with a 1.41% decrease in the past day, it’s heartening to see that Pepe is still showing a 22.53% growth when viewed on a 7-day chart.
On the 9th of December, Pepe’s price hit a record high of $0.00002803. At the moment, its price is 10.84% below that peak.
In the last day, the price of PEPE has varied from $0.00002246 to $0.00002803, and over the past week, it’s gone as low as $0.00001931 and reached a high of $0.00002748.
Whale gains $73 million from early investment
An investor who initially put $3,000 into Pepe back in April, 2023, has since amassed an astounding profit of $73 million. This savvy investor snapped up approximately 4.91 trillion PEPE tokens during the early stages of its launch and steadily sold off portions of their holdings over a period of time.
To date, they’ve offloaded about 3.03 trillion PEPE tokens in exchange for a total of around $27.5 million, while retaining roughly 1.88 trillion tokens currently valued at around $45.66 million.
The trader’s profit, compared to their initial investment, is an astonishing 24,656-fold increase, drawing significant interest from the crypto world.
On December 9th, the trader offloaded another 100 billion tokens at a value of $2.8 million, adding to their overall earnings.
Majority of holders report profits
Based on information from IntoTheBlock, approximately 348,770 PEPE address holders (representing 96.65%) are currently experiencing a gain, suggesting that most of these investors bought the token for less than its current market price.
Around 3.34% of the total number, which comes out to roughly 12,060 addresses, have bought the token close to its present value, making them break-even.
A mere 28 addresses, which equates to just 0.01% of investors, have reported losses. This is because they purchased the memecoin at a price higher than its current value.
Most investors initially purchased the token when its value ranged from 0.000003 to 0.000023 USD, indicating a significant period of accumulation prior to the recent surge in prices.
Rising adoption and increased trading volume
PEPE’s activity level has significantly risen as its 24-hour trading volume hit an impressive 24.99 trillion tokens, equaling its highest point over the past week.
On the 9th of this month, I noticed around 16,300 wallets engaging with the crypto token, among which were about 4,100 newly active ones. This marks a significant 18.41% surge in participation over the past seven days.
The number of active users participating has grown significantly too, reaching 9,710 active wallets, marking a noteworthy surge of 24.73% in overall activity.
Read Pepe’s [PEPE] Price Prediction 2024–2025
In other words, we found 2,490 accounts with no balance, suggesting that these users may have sold off their tokens or lowered their investment in them.
The increasing use and transactions with Pepe demonstrate its rising prominence within the digital currency sector.
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2024-12-10 19:36