♻️Capital to invest and patience to wait

Astute Trader’s Position Peaked at $43M During PEPE’s Peak Valuation as Memecoins Continue to Create New Millionaires. An astute crypto trader has reportedly turned just over $2,000 into over $43 million when the Pepe memecoin hit its peak valuation, despite the token’s extreme volatility and lack of underlying technical value. The trader earned an over 4,700x ROI on the popular frog-themed cryptocurrency $PEPE. “This OG spent just $2,184 to buy 1.5B PEPE ($43M at peak) in the early stage. He sold 1.02B PEPE for $6.66M, leaving 493MM PEPE ($3.64M), for a total profit of $10.3M (4,718x),” Lookonchain wrote in an X post on March 29. The trader made over $10 million in profit despite Pepe’s price falling more than 74% from its all-time high of $0.00002825, reached on Dec. 9, 2024, data from Cointelegraph Markets Pro shows. Memecoins are considered some of the most speculative and volatile digital assets, with price action largely driven by internet excitement and social sentiment rather than fundamental utility or innovation. Still, they have proven capable of generating life-changing returns. In May 2024, another early Pepe investor turned $27 into $52 million — a 1.9 million-fold return — according to on-chain data. Memecoins Are Stealing the Spotlight from Altcoins Despite their inherent lack of utility, memecoins continued to steal the spotlight from more established cryptocurrencies, Stella Zlatareva, desks editor at digital asset investment platform Nexo, told Cointelegraph: While investor demand for memecoins has increased, it may also be diverting capital from more established assets. For example, Solana (SOL) is down over 51% since the launch of the Official Trump (TRUMP) token in January, according to Cointelegraph data.