1,000x Pepe (PEPE) Investor Returns With 375x Kickback From New Altcoin

BeInCrypto
BeInCrypto

30 Jun 2023 1:15 PM

An investor that previously made a 1000x return on PEPE resurfaced to record 375x gains from the memecoin's derivative assets....

  • An Ethereum wallet user has recorded 375x gains from PEPE 2.0, following their previous 1,000x return on Pepe (PEPE).
  • It is unclear how the investor is making these returns, as the hype around PEPE-related tokens has not been evident on social media recently.
  • The investor holds approximately $120,544 in PEPE 2.0 and $5,800 in PEPEC, along with other ERC-20 assets spread across different platforms.
  • The investor made 99 ETH from 0.1 ETH through their PEPE 1.0 investment strategy and conducted most of their early PEPE trades on Uniswap V3.
  • The last transaction was made on Uniswap V2 on Friday morning, according to Etherscan.
  • Meme coin prices typically follow a hype cycle driven by social media influencers. However, the mentions of PEPE on social platforms have significantly decreased in the past seven days.
  • PEPE initially gained a market cap of $326 million within two weeks of its launch, but its social mentions have fallen from a peak of 4,000 to 684.
  • Some investors have earned significant returns on PEPE, but there are concerns about market manipulation and unfair practices.
  • Legislation in South Korea and Europe aims to penalize market manipulation and require influencers to disclose compensation from projects they promote.
  • The current market cap of PEPE is approximately $635 million, with 125,772 holders.

The sentiment of the article is generally positive, highlighting the significant gains made by the Ethereum wallet user and other investors in PEPE. However, there are concerns about market manipulation and the decrease in social mentions of PEPE.

Go to publisher site

You May Ask

How did the Ethereum wallet user achieve a 375x gain from PEPE 2.0?What is the current value of the investor's holdings in PEPE 2.0 and PEPEC?Where did the investor conduct most of their early PEPE trades?What legislation aims to prevent market manipulation and require influencers to disclose compensation?How many holders does PEPE currently have and what is its market cap?

Suggested Reads