The cryptocurrency owner made $ 79 million in profit by investing only $ 83 in a well-known token

Lookonchain analysts have drawn attention to a lucky trader who has made substantial profits on trading the PEPE memcoin. However, users accuse him of insider trading.

The trader turned only $ 83 into $ 79.4 million. The scheme is simple: in 2023, he bought 6.44 trillion PEPE, paying 0.041 ETH for them, and has not yet sold a single token. That is, the user earned 958,580 times the amount he invested.

However, members of the cryptocurrency community had mixed reactions to this story. In response to Lookonchain’s tweet, some users wrote that the wallets analysts had noticed belonged to Pepe insiders.

«These are all insider wallets controlled by the project team. These are thesame people who have dumped $ 16 million worth of tokens, taking them from the community treasury,» the founder of Pond Coin, PAULY, said in X.

As for the value of PEPE, crypto trader Plazma believes that the token’s upward trend will continue, but expects short periods of volatility along the way. «PEPE's price discovery should continue over the next few weeks with some breaks of a few days and pullbacks. We will be at 2x-3x in just a few weeks,» he wrote in a May 21 post.