A persistent trader with a knack for hunting memecoin trends has managed to lock in massive gains in the last month, according to blockchain sleuthing firm Lookonchain.
The entity’s gains on PEPE amounted to 32x, according to the firm.
“Sharing a super meme coin hunter who earned 562.64 ETH ($1.06 million) in the past month!
– Made 189.5 ETH ($345,306, 4x gains) on RFD.
– Made 127 ETH($248,697, 32x gains) on PEPE.”
Lookonchain says the memecoin hunter traded a total of 104 different tokens in the past month, of which 66 were profitable, giving the trader a win rate of 63.5%.
The blockchain tracking firm has reported a number of traders who took advantage of the massive rallies in PEPE as of late.
Lookonchain reported on a trader earlier this month who made 48x on his PEPE trades. The same trader then took their gains and reinvested them back into PEPE on its price dip. On-chain data shows the entity selling their ETH for more PEPE on decentralized crypto exchange Uniswap (UNI).
“A SmartMoney who made 1,219 ETH ($2.2 million) on PEPE spent 1,173 ETH ($2.1 million) to buy 1.33 trillion PEPE again… The buying price is $0.000001586.
He bought 2.24 trillion PEPE with 26 ETH ($48,000) at $0.00000002166, then sold for 1,245 ETH ($2.24 million) at $0.0000009985, with a gain of 48x.”
At time of writing, PEPE is trading for $0.000002, mostly sideways on the week.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Perfect Lazybones/Natalia Siiatovskaia