According to on-chain data, meme coin Pepe A trader who successfully kept his predictions doubled his bets.
A “smart coin” Ethereum (ETH) address, first spotted by blockchain tracking firm Lookonchain, has gained over 4,500% by purchasing PEPE at an early date. Address, profit by selling assets took.
Lookonchain pointed out that the same trader took his gains and reinvested them in PEPE at the price drop. On-chain data reveals that the asset is selling its ETH on decentralized crypto exchange Uniswap (UNI) for more tokens.
A smart coin that earned 1,219 ETH ($2.2 million) from PEPE spent 1,173 ETH ($2.1 million) to buy 1.33 trillion PEPE again… The purchase price is $0.000001586.
NEWS CONTINUES BELOWHe bought 2.24 trillion PEPE for 26 ETH ($48,000) at $0.00000002166, then sold it for 1,245 ETH ($2.24 million) at $0.00000009985 at 48x profit.
Altcoins Sherpa also weighed in on PEPE and shared the view that current price levels could be a good spot for bulls to enter bids. meme coinHe thinks he expects to eventually go much lower, but a higher move is still on the table in the short term.
Right here is the area I’m looking at ($0.00000112). I would expect something like this, we would go around and then maybe move up ($0.0000023) and then go down.
To be clear, it wouldn’t surprise me at all that this would eventually drop further, and my position is really just a scalpel. I will only consider the next ascent.
You can follow the current price action here.