In a bullish trading session, Ethereum’s largest capped memecoin, $PEPE, has surged 10% to reach a new all-time high of $0.00001577. This remarkable price increase reflects growing interest and investment in the memecoin.

Prominent investor James Wynn, known on Twitter as jwynn.eth (@JamesWynnReal), deposited 491 billion $PEPE, worth approximately $7.54 million, into Binance. Wynn has been vocal about his belief that $PEPE remains severely undervalued despite its recent gains.

His confidence is bolstered by his previous investment, where he spent just $8,524 to acquire 2.83 trillion $PEPE, now valued at $44.4 million, yielding substantial profits.

jwynn.eth(@JamesWynnReal) deposited 491B $PEPE($7.54M) into #Binance before saying that $PEPE is still severely undervalued.

He previously spent $8,524 to buy 2.83T $PEPE($44.4M currently) and made huge profits on $PEPE.

He has 476.8B $PEPE($7.48M) left currently. pic.twitter.com/9flTGYpNxw

— Lookonchain (@lookonchain) May 25, 2024

Currently, Wynn holds 476.8 billion $PEPE, valued at $7.48 million, maintaining a significant position in the memecoin. This strategic move underscores his continued faith in $PEPE’s potential for further appreciation.

Another Investor Makes $3.49 Million In Profits From $PEPE

Moreover, another savvy investor, dubbed “smart money,” has also profited significantly from trading $PEPE. This investor, who has made $3.49 million in profits, opened a position in $PEPE on May 14 at approximately $0.00001046. With the current price surge, their profits have soared to $1.83 million, representing a 43% gain.

这就是抄作业的快乐吗🤩

曾交易 $PEPE 获利 349 万美金的聪明钱于 05.14 建仓的 PEPE 已浮盈 43%🔥！其建仓成本约 $0.00001046（上次的有些偏差，在此更正），目前已浮盈 183 万美金

钱包地址 https://t.co/bIplGfGvCC https://t.co/ACmjsZJokI pic.twitter.com/T8Ey4XvJaD

— Ai 姨 (@ai_9684xtpa) May 25, 2024

The recent activities and statements from influential investors like Wynn are driving attention and speculation towards $PEPE, contributing to its price increase. As the memecoin market continues to evolve, $PEPE’s performance highlights the potential for significant returns, attracting both seasoned investors and newcomers alike.

In conclusion, $PEPE’s recent all-time high and the substantial investments from high-profile figures suggest a bullish outlook for the memecoin. However, as with all investments, caution and thorough research are advised to navigate the volatile cryptocurrency landscape effectively.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Ethereum Memecoin $PEPE Hits New All-Time High appeared first on The Merkle News.

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Filed under: Bitcoin - @ May 26, 2024 4:56 am