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PEPE has become the third-largest memecoin, with a market cap of $3.3 billion and a daily trading volume of $1.4 billion. A trader who invested $200,000 in PEPE in October 2023 sold their holdings for $1.97 million in July 2024, achieving an 886% return. PEPE, an Ethereum-based memecoin, has swiftly ascended to become the third-largest in its category, boasting a market capitalization of around $3.3 billion and an average daily trading volume of around $1.4 billion, and has attracted over 279,000 on-chain holders. The coin’s high liquidity, exceeding $35 million locked through Ethereum-based smart contracts, has made it a preferred choice for speculative traders.  Drawing inspiration from the iconic “Pepe the Frog” character, PEPE has managed to capture the attention of a diverse investor base. This token’s cultural significance and its current standing in the market show how investors can approach the memecoin environment with more confidence.  Crypto Whales Accumulate PEPE Tokens in Anticipation of Bull Run According to recent data from Lookonchain, many investors have been accumulating more of PEPE, which indicates confidence in the token’s future prospects. One investor’s experience with PEPE is a notable example of the potential for substantial returns in the memecoin market. On October 25, 2023, this trader bought 170 billion PEPE tokens with 200,000 USDC. Despite enduring several months of market fluctuations, the trader sold their holdings on July 25, 2024, for 1.97 million USDC. This transaction produced an outstanding return on investment of 886% and produced a profit of about $1.77 million. These success stories illustrate how PEPE has endeared itself to investors who are ready to invest in the volatile memecoin market. Additionally, Lookonchain revealed that an address associated with Ceffu, a prominent custody and liquidity provider for institutional investors, acquired 1.48 trillion Pepe tokens, valued at over $11.6 million, from…

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Filed under: News - @ August 31, 2024 11:20 am