Lookonchain Shares Details of User Who Bought 3.79T PEPE for $1M

Onchain analyst Lookonchain shared details of an individual that has spent nearly 1 million USD to purchase PEPE Coin. According to the on-chain data, the user acquired 3.79 trillion PEPE with 422 ETH and 100K USDC.

This guy spent nearly 1 million USD buying $PEPE, becoming the 10th holder of $PEPE.

He bought 3.79T $PEPE with 422 $ETH($871K) and 100K $USDC at an average price of $0.0000002563 from Apr 19 to Apr 22.

Could he sell all $PEPE without losing money?https://t.co/wL35pEMtoT pic.twitter.com/MiJ28ezczD

— Lookonchain (@lookonchain) April 26, 2023

The purchase was made from April 19 to April 2022 for an average price of $0.0000002563. This fleet of purchases has also made the user the tenth-largest holder of PEPE.

During its initial days, PEPE gained significant attention due to a noteworthy transaction that drew the interest of the cryptocurrency community on Twitter.

A meme coin trader traded 0.125 ETH, which was valued at approximately $250, for 5.9 trillion PEPE tokens. As interest in the meme coin grew, the value of these coins surged to about $1.8 million by April 19, 2023, potentially resulting in a return of approximately 4,500 times the initial investment.

Last week, there was a great deal of excitement surrounding the PEPE Coin, resulting in its market capitalization skyrocketing from just a few thousand dollars to over $150 million. This created a huge amount of buzz, drawing liquidity from traders and inspiring the creation of many similar tokens on other blockchains.

As of now, PEPE is being traded at $0.0000002238, with a decline of 9% in value over the last 24 hours. According to CoinMarketCap data, PEPE reached an all-time high of $0.0000004036 before dropping to its current price. However, it remains uncertain whether it is a short-lived pump and dump or another significant meme coin.

Source