Trader Nets 38,675% Profit on New Dogecoin and Shiba Inu Competitor That’s up 6x in Two Weeks: On-Chain Data

A crypto trader with a soft spot for meme coins has netted approximately 38,675% profit on a new Dogecoin (DOGE) and Shiba Inu (SHIB) rival, according to on-chain data.

Per blockchain tracker Lookonchain, the trader purchased four trillion of the Pepe (PEPE) meme coin at a price of 2.1 Ethereum (ETH) worth $4,410 at the time.

Lookonchain says that a big portion of the four trillion Pepe was sold while a balance of less than one trillion now remains – all translating to a combined realized and paper profits of over $1.705 million.

“A SmartMoney bought 4 trillion PEPE at a cost of 2.1 ETH ($4,410) and made approximately $1.71 million!

And this guy also traded a lot of MEME coins.

The SmartMoney discovered PEPE and spent 2.1 ETH ($4,410) to buy four trillion PEPE six hours after PEPE was listed.

After each price surge in PEPE, he sold part of PEPE instead of selling all of them.

He sold a total of 3.27 trillion PEPE for $906,000 and currently holds 700 billion PEPE worth $808,000.”

Source: lookonchain/Twitter
Source: lookonchain/Twitter

PEPE is trading at $0.000000938926 by market cap at time of writing and is ranked 106th largest crypto asset.

According to the on-chain data tracker, the trader who mostly transacts on the Ethereum blockchain has also netted triple-digit profits on two other lesser-known meme coins.

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“This smart money has transactions on almost every chain, and 97% of assets are on Ethereum.

He also bought BULL at $0.00075, now at $0.0045, which increases 500%.

And bought BABYPEPE at $0.00000000024, now at $0.00000000123, which increases 415%.”

Source: lookonchain/Twitter

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The post Trader Nets 38,675% Profit on New Dogecoin and Shiba Inu Competitor That’s up 6x in Two Weeks: On-Chain Data appeared first on BitcoinLinux.