PEPE Trader Earns $21 Million, Diversifies into O2T

PEPE Trader Earns $21 Million, Diversifies into O2T

PEPE Trader Earns $21 Million.

A smart cryptocurrency trader made $21 million with the meme coin Pepecoin (PEPE). PEPE surged 39% between Monday and Wednesday, reaching a new all-time high of $0.0000115. Keith Gill, or “Roaring Kitty” from the GameStop fiasco, returned to fuel the rally, reigniting interest in “meme assets.”

Despite a 12% drop from its peak, PEPE remains one of the most traded cryptocurrencies. PEPE has a 24-hour volume of $1.9 billion, making it the ninth most traded token, surpassing significant assets such as Dogecoin and XRP. Open interest in PEPE permanent futures grew to more than $114 million.

Speculators piled in.

PEPE/USD one-day price chart. Source: CoinGenko.

As of May 17, PEPE is trading at $0.00001024, up 4.84% in the past day. Despite a recent dip, PEPE’s trading volume remains strong. Key support levels are around $0.00000950, with resistance at $0.00001100.

Trader Bets on Option2 Trade Pre-listing.

Riding the trend, the unnamed PEPE trader decided to diversify some of his $21 million profit. They made an unknown investment in Option2 Trade (O2T) just days before it was listed on the Centralised Exchange (CEX).

Furthermore, Option2 Trade wants to revolutionise trading by providing novel options and tools for both novice and seasoned investors. The upcoming CEX listing is expected to increase awareness and liquidity, making O2T more appealing. The whale’s pre-listing O2T purchase demonstrates trust in its potential.

Certainly, the crypto community is curious to see how O2T will fare post-listing. Many believe that the listing will significantly increase its market presence and worth. The PEPE trader’s decision emphasises the significance of strategic diversification in cryptocurrency’s turbulent marketplaces.

Another PEPE Trader’s $46 Million Windfall

Another trader achieved a record-breaking profit with Pepe (PEPE), converting $3,000 into $46 million. According to Lookonchain, this trader bought 4.9.trillion PEPE on April 15, 2023, for only $3,000. As PEPE’s value increased, they strategically sold 1.41 trillion PEPE for $7.4 million. They still have 3.5 trillion PEPE, which is currently worth $38.9 million.

Source: X.

Certainly, this trader’s returns demonstrate the immense potential of meme coins for strategic investors. They maximised their returns by taking advantage of the spike in PEPE and selling sections of their assets at peak times. Notably, their success story emphasises the value of time and market knowledge in bitcoin trading. Incredibly, the trader’s total profit is $46.3 million, representing a phenomenal return of 15,718x their initial investment.

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