Memecoins

PEPE Trader Makes $21 Million; Expands Portfolio with O2T Investment

PEPE Trader Makes $21 Million

An astute crypto trader managed to rake in $21 million in profits from the meme coin Pepecoin (PEPE). PEPE saw a significant 39% surge between Monday and Wednesday, reaching a new all-time high of $0.0000115. This surge was largely attributed to the resurgence of Keith Gill, also known as “Roaring Kitty” from the GameStop saga, reigniting interest in meme assets.

Despite a 12% pullback from its peak, PEPE continues to be one of the most actively traded cryptocurrencies. With a 24-hour volume of $1.9 billion, PEPE ranks as the 9th most traded token, surpassing major assets like Dogecoin and XRP. The open interest in PEPE perpetual futures has also surged to over $114 million as speculators enter the market.

As of May 17, PEPE is valued at $0.00001024, marking a 4.84% increase in the past day. Even with recent corrections, PEPE’s trading volume remains strong. Support levels are situated around $0.00000950, while resistance levels are at $0.00001100.

Trader Bets on Option2Trade Pre-Listing

Capitalizing on the momentum, an anonymous PEPE trader decided to diversify a portion of their $21 million winnings. They made an undisclosed investment in Option2Trade (O2T) just days before its centralized exchange (CEX) listing.

Option2Trade aims to revolutionize trading with innovative options and tools for both new and experienced investors. The upcoming CEX listing is anticipated to enhance visibility and liquidity, making O2T more appealing. The decision by the trader to invest in O2T pre-listing indicates confidence in its potential.

The crypto community eagerly awaits to see how O2T will perform post-listing. Many anticipate a significant increase in its market presence and value. This move by the PEPE trader underscores the significance of strategic diversification in the volatile crypto markets.

Another PEPE Trader’s $46M Windfall

In a remarkable feat, another trader turned $3,000 into a whopping $46 million with Pepe (PEPE). According to Lookonchain, this trader purchased 4.9 trillion PEPE on April 15, 2023, for just $3,000. As the value of PEPE surged, they strategically sold 1.41 trillion PEPE for $7.4 million. They currently hold 3.5 trillion PEPE, valued at $38.9 million.

This trader’s profits exemplify the immense potential in meme coins for strategic investors. By leveraging PEPE’s growth and selling portions of their holdings at opportune moments, they maximized their returns. Their success story underscores the importance of timing and market insight in cryptocurrency trading. The trader’s total profit now stands at an impressive $46.3 million, representing a remarkable return of 15,718 times their initial investment.

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