by Jonathan Agozie 
A purchase of 143 billion PEPE by a crypto investor has gained considerable attention due to the investor’s history of profitable trades.
According to data from Lookonchain, a blockchain analyst platform, a crypto trader referred to as “smart money” made a purchase of 142.96 billion PEPE for $1.26 million. The transaction was executed at a unit price of $0.000008831, and it appears that the investor made some well-timed moves over the past six months.
The trader’s investment in PEPE at this price shows confidence in its potential growth. This move has gained attention in the crypto market and reflects the trend of increased interest in alternative cryptocurrencies beyond Bitcoin and Ethereum.
Based on Lookonchain’s statistics, this trader’s approach has been quite successful. Six of the seven PEPE trades executed were profitable, leading to a remarkable win rate of 85.7%. The total profits earned by the trader amounted to an impressive $915,000, proving the effectiveness of their strategy.
A $PEPE smart money spent 1.26M $USDC to buy 142.96B $PEPE at $0.000008831 2 hours ago.
The smart money has traded $PEPE 7 times in the past 6 months, 6 of which were profitable, with a win rate of 85.7%, and the total profit is $915K.https://t.co/92nzYbyfsY pic.twitter.com/Lsqf56W6hB
— Lookonchain (@lookonchain) May 6, 2024
PEPE’s Market Trends
Pepe is a memecoin that has been gaining attention due to its recent price movements. Recently, a prominent cryptocurrency transaction tracker called WhaleAlert reported that there was a significant movement of Pepe tokens between wallets. According to the report, a whale transferred exactly 4,049,371,347,309 PEPE tokens from the Turkey-based Paribu exchange to a wallet that is labeled as ‘unknown.’ This transaction has sparked curiosity and speculation within the cryptocurrency community.
Over the past 24 hours, the price of PEPE has been fluctuating between $0.000008287 and $0.000008591, and as of now, it rests at $0.000008647, representing a boost of 0.43%, according to the latest data from CoinMarketCap. Even though the token’s value has seen some ups and downs in the past day, investors are still optimistic thanks to promising technical signs.
It’s worth noting that the token’s open interest has recently seen a positive uptick of 1.17%, reaching an impressive $95 million, according to Coinglass. This is a positive sign of continued investor interest in the token and it may also suggest the possibility of further price appreciation shortly.
