In a noteworthy development, a prominent Ethereum ($ETH) investor has made a significant investment in the meme-inspired cryptocurrency $PEPE, a competitor to other meme tokens like $SHIB. Over the course of a month, this investor has accumulated over $1 million worth of $PEPE tokens.
As per Lookonchain, a well-known blockchain analysis service, an anonymous trader with the username OSF has acquired an astounding 173 billion PEPE tokens for 141 ETH, equivalent to approximately $261,000. Since June 14, this trader has continued to invest, totaling 536 ETH, which amounts to nearly $1.04 million, in order to acquire a total of 613 billion PEPE tokens.
Earlier, a fortunate cryptocurrency investor has seemingly managed to turn an investment of just 0.125 ETH in PEPE into a staggering $1.14 million in just a matter of days by buying into it at the right time.
Using $PEPE2, a spin-off of PEPE, a savvy memecoin trader also managed to multiply an initial investment of around $12,000 into a whopping $1.05 million within just ten days.
This article does not contain financial advice.