Cryptocurrency PEPE has updated its all-time high, rising by 39,000%

Editor’s note: not financial advice!

The PEPE token has reached a new all-time high, rising 39,000% since its launch.

While the already well-known memecoins, Dogecoin and Shiba Inu, have repeated the price movement of bitcoin, PEPE has managed to take 17th place in terms of trading volume over 24 hours and enter the top 125 digital assets by market capitalization. Currently, PEPE is ranked 3rd in the memecoin category, having beaten Floki and Baby Doge Coin.

Representatives of the analytical platform Lookonchain shared data on the crypto-coin dimethyltryptamine. eth, which owns PEPE, and its activity on the markets. The user sold PEPE every time the price of the coin increased. Thus, yesterday, the investor sold about 100 billion PEPE for 21 ETH, which is about $ 40,000.

This particular user managed to become a cryptocurrency millionaire by investing only $ 260 in PEPE. However, due to problems with the token’s liquidity, the newly-minted millionaire has little chance of realizing the profit. Even if the demand for PEPE does not decline, it will take 46,200 years to sell 5.9 trillion PEPE tokens (the same amount purchased by dimethyltryptamine. eth).

There is a possibility that the founder of Ripple and a millionaire investor is one person who decided to make money on an «incredible success story» and naive investors. In any case, experts do not advise users to rush to invest in a little-known digital asset — bots and a ponzi scheme are behind its growth.