Crypto trader increased his own profit 4718 times thanks to PEPE memo coin

Note: not investment advice!

An anonymous trader was able to turn $ 2184 into $ 6.66 million, earning a record return of 4718 times thanks to a long position in the PEPE memecoin. According to Lookonchain' s analytics, he bought 1.5 trillion PEPE tokens and sold 1.02 trillion at the peak, recording a total profit of $ 10.3 million. Although at its highest point on December 9, 2024, his position was estimated at $ 43 million, the token’s value has since dropped from $ 0.2 825 to $ 0.684.

After partial withdrawal of profits, the trader still had 493 billion PEPE worth about $ 3.64 million. This case has once again drawn attention to the risky nature of meme coins, which are often the object of speculative interest rather than long-term investment.

Dan Hughes, co-founder of the Radix project, told Cointelegraph that capital in the meme-coin segment does not come from outside but flows between different tokens. He cited the example of the TRUMP token, whose significant growth was driven by the massive exodus of investors from other assets during a period of high FOMO.

In turn, River Financial CEO Alex Leishman warns that centralized exchanges, by adding altcoins, create conditions for the endless launch of new meme coins. In his opinion, such exchanges tend to be inclined to short-term speculation rather than contribute to the long-term welfare of investors, as the bitcoin-oriented model does.

Despite the success stories of individual traders, interest in meme coins in the broader market is declining. According to Messari, trading volumes on decentralized exchanges have fallen to a year’s low. Bernstein predicts a further flow of liquidity from this segment to DeFi, NFT, and stablecoins, which may change the focus of investors in the near future.

The No Worries editorial team strongly recommends that readers do not invest their own funds in dubious cryptocurrency projects and little-known digital assets!