Trader turns $2K into $43M with Pepe memecoin, selling for $10M profit
From Cointelegraph
March 30, 2025 7:54 am:
A trader turned $2,000 into $43 million by investing in Pepe memecoin at its peak, earning a 4,700x return, as per Lookonchain. Despite a 74% drop from its ATH, the trader profited $10 million. Memecoins like Pepe are highly speculative, with prices driven by online enthusiasm rather than utility. Another early Pepe investor turned $27 into $52 million in May 2024.
Memecoins like Pepe are attracting attention, outperforming more established cryptocurrencies. Investor demand is surging, potentially diverting capital from assets like Solana, which has declined 51% since the launch of the Trump token. Memecoins do not attract much external capital flow, with liquidity moving from one meme to another. Insider scams and fraudulent activities have plagued the memecoin industry, prompting US regulators to introduce protective measures.
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