A smart pepe coin trader has managed to make a profit of $11.7M on $PEPE by strategically trading Pepe coin ($PEPE) during a recent market downturn.
According to the data from Lookonchain, the trader sold all of his pepe coins on December 19, during the market crash.
Source: X
$PEPE had reached an all-time high (ATH) of $0.000028 on December 9th, boasting a market capitalization of $11.8 billion. However, the price began to decline in the following days, ultimately dropping by approximately 50% from its peak within two weeks.
Source: CoinmarketCap
While everyone was losing money to price drops, this smart trader outperformed the odds, playing bets that helped him earn millions. He sold a large amount of tokens ahead of the dip.
Following this he has been continuously accumulating tokens, and this week he now has 1.42T $pepe in his crypto address, which is valued at roughly $24.5M at the current market prices.
