This Trader Harvests Cuan From PEPE Memecoin

PEPE memecoin. (Photo; Doc. Criptonoticias)

JAKARTA - A crypto trader has made a big profit from Pepe's memecoin (PEPE) trading. According to a report from blockchain tracking firm, Lookonchain, an anonymous trader recently transferred 427 billion Pepe tokens worth about $8.5 million to the US-based Kraken crypto exchange. The trader is likely to sell PEPE tokens in the open market.

The trader still holds more than one trillion Pepe tokens worth about USD 18.4 million (IDR 297.5 billion), with a profit of around USD 2 million (IDR 32.4 billion) at this time.

This is not the first time the trader has made a big profit. In December 2024, he managed to make a profit of 11.7 million US dollars (Rp189.5 billion) after selling all of his Pepe tokens amid market corrections earlier that month. This sale came after he accumulated more than one trillion Pepe tokens from March to September 2024.

Interestingly, after market corrections in December, the trader again bought more than one trillion Pepe tokens at the same end of the month, when token prices were starting to stabilize. Lookonchain reported that within six days of the decline in the market on December 19, the trader managed to accumulate 1.42 trillion Pepe tokens worth 24.5 million US dollars (Rp397.7 billion).

To date, Pepe tokens are trading for $ 0.000018 per token, a decrease of 4.2% in the last 24 hours. With a market capitalization of US $ 7.5 billion (IDR 121.5 trillion), Pepe is now the 29th position on the list of largest crypto projects by market capitalization.