A big $PEPE investor has recently gained crypto community’s attention by making an enormous profit after a significant silence. As per Spot On Chain, the $PEPE whale going by “0xc25” has obtained a $51.25M profit from only $3K following halting crypto activity for 6 months. The on-chain analytics platform took to social media to reveal this development.
$PEPE Whale Makes $51.25M from Mere $3K
Spot On Chain asserted that the $PEPE whale “0xc25” has recently turned $3K into a stunning $51.25M. The whale has reportedly carried out this activity following a hiatus for the past 6 months. While re-entering the market, the whale deposited nearly 500B $PEPE tokens to Coinbase. This deposit of a huge $5.73M into the prominent crypto exchange points toward the whale’s efforts for portfolio rebalancing.
The respective investor’s journey reflects one of the remarkable success stories within the history of meme coins. Back on the 15th of April in 2023, the whale bought 4.914T $PEPE tokens for only $3,010. Subsequently, after substantial spike in the popularity of $PEPE, the whale sold 3.66T $PEPE tokens in a strategic move. As a result of this, the whale secured a massive $35.52M in profit. Hence, even following the respective sales, the $PEPE whale still possesses 1.252T $PEPE. This equals a value of almost $15.73M at the present market prices.
Astronomical 17,026x Profit Raises Speculations about Potential Impact on $PEPE’s Price
According to Spot On Chain, the estimated cumulative profit of the aforementioned $PEPE whale sits at an immense $51.25M. This figure accounts for a sheer 17,026x profit on the earliest investment. Thus, this underscores a rare event with whopping gains even in the highly volatile crypto market. The effect of this development on $PEPE’s price is still uncertain. Nonetheless, big deposits to crypto exchanges often lead to profit-taking strategies.
