Legendary Trader Invests $1.26M in PEPE, Earns $917K Profit! Here’s How

The post Legendary Trader Invests $1.26M in PEPE, Earns $917K Profit! Here’s How appeared first on Coinpedia Fintech News

In a groundbreaking move on the blockchain, a savvy investor, dubbed “smart money” by LookonChain, has recently invested $1.26 million in USDC to acquire approximately 142.96 billion PEPE tokens. This bold move signals a strong belief in PEPE’s potential within the cryptocurrency market.

Here’s a deep dive analysis.

Unveiling Strategic Moves

Lookonchain, a leading blockchain analytics platform, has revealed a significant development involving a trader known as “smart money,” who strategically acquired 142.96 billion PEPE tokens with $1.26 million in USDC. This calculated move showcases a deep understanding of market dynamics, particularly within the meme coin domain.

A $PEPE smart money spent 1.26M $USDC to buy 142.96B $PEPE at $0.000008831 2 hours ago.

The smart money has traded $PEPE 7 times in the past 6 months, 6 of which were profitable, with a win rate of 85.7%, and the total profit is $915K.https://t.co/92nzYbyfsY pic.twitter.com/Lsqf56W6hB

— Lookonchain (@lookonchain) May 6, 2024

This transaction unfolded at a unit price of $0.000008831, highlighting a series of well-timed moves executed by the investor over the past six months. The decision to inject substantial capital into PEPE at this precise moment underscores confidence in the altcoin’s potential for further growth.

Moreover, this move reflects the broader trend of increasing interest and investment in alternative cryptocurrencies beyond traditional favorites like Bitcoin and Ethereum. It signifies a maturing crypto market where investors seek out promising opportunities beyond the mainstream.

Smart Money’s Strategic Moves

Furthermore, Lookonchain’s data confirms the success of this trader’s strategy, with six out of seven PEPE trades proving profitable, boasting an impressive win rate of 85.7% and total profits amounting to $915,000.

Despite being relatively new, PEPE has captured attention due to its recent price surges and the backing of smart money investors who consistently generate profits through strategic trades.

PEPE Price Analysis

Pepe (PEPE) tokens have experienced a notable surge in value, currently trading at $0.000008629, reflecting a 1.55% increase within the last 24 hours and a substantial 30.42% rise over the past week. 

This bullish sentiment is supported by technical indicators like the Relative Strength Index (RSI), currently at 65.32, and PEPE’s trading position above its 200-day Exponential Moving Average (EMA), signaling sustained upward momentum.