Cryptocurrency owner received more than $ 46 million in profit due to the growth of a well-known token

As the popular PEPE memecoin updates its absolute highs (ATH) in the cryptocurrency community, traders are making millions of dollars on it. The analytical platform Lookonchain has shared the success story of a user who managed to earn $ 46 million by trading PEPE.

According to CoinGecko, PEPE trading volume increased by 322% on May 15. This unprecedented surge in activity was accompanied by an epic price jump, as a result of which PEPE set a new all-time high (ATH).

The main factor behind the positive dynamics of PEPE is the general rise of the coin sector that began after the return of Roaring Kitty. According to Lookonchain, a lucky trader sold about 255 billion coins (about $ 2.3 million) on the eve of a significant increase in the PEPE price. Then he bought 4.9 trillion PEPE (about $ 56 million at the current exchange rate), spending $ 3000 on it.

Later, the user sold 1.41 trillion PEPE for $ 7.4 million at about the time when the value of the asset jumped to the new ATH. After all these transactions, the trader’s balance sheet was left with 3.5 trillion PEPE, which is estimated at $ 38.9 million. His profit amounted to $ 46.3 million, which is 15,718 times more than the amount of his investment.

PEPE has been growing steadily since mid-April. The positive activity intensified even more after PEPE exceeded the daily MA 50. After rising for two consecutive days, PEPE’s price accelerated on May 13 and reached an all-time high.