Whale’s $27 Investment in Pepe Memecoin Surges to $52 Million in Profit
Bitcoin's recent surge to a new record high has sparked a fresh wave of optimism in the market, with Pepe (PEPE), one of the standout memecoins, seeing impressive gains.
The token has risen by 4.2% in just a single day, 14.4% over the past week, and 8.4% in the last month. Since December 2023, PEPE has experienced a jaw-dropping 1625.4% surge. However, the coin recently faced a slight correction, falling by 8.8% over the past week.
In an intriguing development, LookOnChain, a crypto analytics firm, reported that a PEPE whale, who had been inactive for 600 days, has moved a massive 2.1 trillion tokens to a new wallet. The whale initially purchased these tokens for just 0.0135 Ethereum (ETH), worth approximately $27.
Now, with the price of PEPE having skyrocketed, those 2.1 trillion coins are valued at around $52 million, yielding an extraordinary return of approximately 1,900,000 times the original investment.
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Since its debut in April 2023, PEPE has quickly become one of the most talked-about cryptocurrencies, with early investors seeing significant profits from modest investments.
CoinCodex, a crypto data platform, predicts that PEPE will continue its upward momentum in the coming month, possibly reaching a new all-time high of $0.000112 by January 2025, representing a 368.82% increase from current levels. However, they also foresee a potential correction, predicting the price could drop to around $0.00005 by February 2025, which would mark a significant pullback after a strong rally.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
