Crypto trader turns $2K PEPE into $43M

A cryptocurrency trader reportedly transformed a $2,000 investment in the memecoin Pepe (CRYPTO:PEPE) into a $43 million peak valuation, later selling for a $10 million profit.

Blockchain analytics platform Lookonchain detailed the transaction, noting the trader spent $2,184 to acquire 1.5 trillion PEPE tokens, which surged to $43 million at the token’s December 2024 all-time high of $0.00002825.

The trader sold 1.02 trillion PEPE for $6.66 million, retaining 493 billion tokens ($3.64 million) and securing a total profit of $10.3 million—a 4,718x return.

Despite PEPE’s subsequent 74% price decline to $0.000007036, the case exemplifies memecoins’ capacity for extreme volatility and outsized gains.

Memecoins like PEPE, DOGE (CRYPTO:DOGE), and FLOKI (CRYPTO:FLOKI) have dominated speculative trading, often outperforming established cryptocurrencies.

“High-beta, i.e., volatile tokens, are stealing the spotlight. Case in point, memecoins surged 5.6% on average, with DOGE, PEPE, and FLOKI responding to rate cut optimism and broader crypto strength,” Nexo’s Stella Zlatareva observed.

However, their rise has drawn scrutiny.

“Even in the case of TRUMP, most of the inbound liquidity was outflow from other crypto assets, people selling their crypto portfolio to buy TRUMP in extreme FOMO,” Radix founder Dan Hughes noted, emphasising that memecoins often redirect capital from other crypto assets rather than attracting external inflows.

Solana (CRYPTO:SOL), for instance, fell over 51% after the launch of the Official Trump (CRYPTO:TRUMP) token in January.

Regulatory concerns persist.

New York lawmakers introduced a bill in March to combat rug pulls and insider scams, following scandals like the Libra (CRYPTO:LIBRA) token endorsed by Argentine President Javier Milei.

While memecoins lack fundamental utility, their social-driven price action continues to attract risk-tolerant investors.

At the time of reporting, the Pepe (PEPE) price was $0.000006934.