PEPE Trader Makes $21 Million and Diversifies Into O2T

A savvy crypto trader turned $21 million in profits from the meme coin Pepecoin (PEPE). PEPE skyrocketed 39% between Monday and Wednesday, hitting a new all-time high of $0.0000115. The rally was fueled by the return of Keith Gill, aka “Roaring Kitty” from the GameStop saga, reigniting interest in “meme assets.”

Though PEPE pulled back 12% from its peak, it remains one of the most traded cryptos. PEPE’s 24-hour volume of $1.9 billion makes it the 9th most traded token, exceeding major assets like Dogecoin and XRP. Open interest in PEPE perpetual futures ballooned over $114 million as speculators piled in.

As of May 17, PEPE is priced at $0.00001024, showing a 4.84% increase in the past day. Despite a recent pullback, PEPE’s trading volume remains robust. Key support levels are around $0.00000950, while resistance levels are at $0.00001100.

Trader Bets on Option2Trade Pre-Listing

Riding the wave, the anonymous PEPE trader decided to diversify part of their $21 million windfall. They invested an undisclosed amount into Option2Trade (O2T) just days before its centralized exchange (CEX) listing.

Moreover, Option2Trade aims to overhaul trading with innovative options and tools for new and experienced investors. Its imminent CEX listing is expected to boost visibility and liquidity, making O2T more enticing. The whale’s pre-listing O2T buy signals confidence in its potential.

Certainly, the crypto world is eager to see how O2T will perform post-listing. Many expect the listing to provide a major boost to its market presence and value. The PEPE trader’s move underscores the importance of strategic diversification in crypto’s volatile markets.

Another PEPE Trader’s $46M Windfall

Additionally, another trader made a record-breaking gain with Pepe (PEPE), turning $3,000 into $46 million. According to Lookonchain, this trader purchased 4.9 trillion PEPE on April 15, 2023, for just $3,000. As PEPE’s value surged, they strategically sold 1.41 trillion PEPE for $7.4 million. They still hold 3.5 trillion PEPE, currently valued at $38.9 million.

Certainly, this trader’s profits highlight the enormous potential in meme coins for strategic investors. By capitalizing on PEPE’s rise and selling portions of their holdings at peak times, they maximized their returns. Notably, their success story underscores the importance of timing and market insight in cryptocurrency trading. Incredibly, the trader’s total profit stands at an impressive $46.3 million, with a staggering return of 15,718x their initial investment.

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