Key Points

• A crypto trader turned $3,000 into $73 million, seeing a 24,656x return, trading PEPE.
• Yesterday, PEPE reached a new ATH, hittingover $11.8 billion in market cap.

A crypto trader made impressive profits trading PEPE, as the memecoin has reached a new ATH on December 9. On-chain data reveals details on how the trader managed to see a 24,656x return on his PEPE investment.

Crypto Trader Sees Huge Returns Trading PEPE

Lookonchain noted that the trader turned $3,000 into $73 million, marking a 24,656x return and becoming a crypto legend.

They also mentioned PEPE’s new ATH on December 9 when the memecoin broke through $0.000028, and reached a new ATH and a market cap of $11.8 billion.

Yesterday, the trader sold 100 billion PEPE coins worth around $2.8 million via the Coinbase exchange, according to Lookonchain notes. On-chain data shows other PEPE transactions in November as well.

The same on-chain notes reveal that the crypto trader invested around $3,000 to purchase over 4.9 trillion PEPE coins on April 15, 2023, in three different transactions.

Over time, the trader sold PEPE and cashed out over 3 trillion PEPE coins for more than $27 million. At the time of the X post, Lookonchain noted that the trader still held 1.88 trillion PEPE coins worth over $45.6 million, which brings his total profits to around $73 million.

PEPE Reached a New ATH

Yesterday, PEPE reached a new ATH, hitting a market cap of $11.85 billion, before recording a drop in price today and reaching the current market cap of $10.6 billion.

Earlier, PEPE’s market cap dropped to $9.45 billion, before a rebound to the current level.

On November 13, PEPE kicked off a price rally which continued and pushed the memecoin at its recent ATH yesterday.

PEPE is a memecoin on Ethereum that was created as a tribute to Pepe the Frog Internet meme.