JAKARTA - Pepe (PEPE), an Ethereum-based meme coin, has now been in the spotlight on the crypto market with a significant increase in value in recent weeks. In fact, there are some traders who have managed to generate millions of dollars from investing in this meme coin.
According to Coingecko, since its launch, Pepe has risen more than 1000 percent from its lowest price on April 18. Now PEPE is included in the top 100 crypto assets by market cap. PEPE traded at its lowest price on April 18 at the level of IDR 0.00.81775 per token. Currently trading at IDR 0.02034436.
An on-chain analysis of Lookonchain reports that there are three addresses that generate more than US$1 million (Rp14.7 billion) from PEPE trading. The first address bought 5.4 trillion PEPE tokens of US$1,100 (around Rp30 million) ETH.
This address then sold 3.42 trillion PEPE for 929 ETH on April 30 and made a profit of USD 1.77 million (around IDR 26 billion). Meanwhile, the same address still has 2 trillion PEPE tokens worth USD 2.37 million (IDR 34.8 billion).
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Then, another trader, dimethyltryptamine.eth, bought 5.9 trillion PEPE with 0.125 ETH or 215 US dollars (Rp 3.1 million). This address then sells 2 trillion PEPE for 560 ETH which is worth 1.06 million US dollars (Rp 15.6 billion) and still has 3.9 trillion tokens worth 2.37 million US dollars (Rp 33.8 billion).
Meanwhile, the last address entered the market later, spending 2.3 ETH (USD 4.822 or IDR 70.9 million) to buy 4.22 trillion PEPE. This trade resulted in profits after selling 3.22 trillion PEPE for USD 670 ETH (1.3 million or around IDR 19.1 billion), while the number of PEPEs still owned was USD 1.18 million (approximately IDR 17.3 billion).
Arkham Intelligence reports that more than 50 addresses hold more than $1 million (Rp14.7 billion) in PEPE tokens. According to the blockchain analysis firm, one of the initial buyers of the coin said it was a deployer wallet that spent $2 (Rp29,400) to get 195 billion PEPE tokens.
This wallet sells the token one week later for 22.94 ETH or about 42,200 US dollars (Rp620 million) and can make a bigger profit if you wait more patiently.
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