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"Pepe Holder Turns $26 to $60.3M, But There’s a not Catch" ( Misunderstood actual matter ) " $PEPE 🐸 meme coin 💯 perfect & trust project.! "❤️
An early Pepe holder has flipped his $26 investment in the token to a staggering $60.3 million but is unable to cash out on gains.
While most early investors have cashed out their gains, an early PEPE whale is currently on a mind-blowing 232,068,400% return but remains keen on holding the asset. The holder turned his initial $26 to $60.3 million but has not sold to realize his gains yet.
Here’s The Catch
On-chain data shows that the whale wallet spent 0.013 ETH ($26) to acquire 2.52 trillion PEPE on April 14, 2023, a few hours after the Ethereum-based meme coin launched. Seen then as a mere amount, his return on investment (ROI) has exploded since then.
Meanwhile, the PEPE whale may never be able to cash out on his gains as the meme coin developers blacklisted his address. Controversially, Pepe’s contract has an embedded feature that allows its core developer to blacklist wallets holding the token through the only Owner modifier.
Notably, several speculations on the blacklist reason have made the rounds. However, popular consensus believes the wallet owner is a PEPE developer and was blocked to prevent him from steering selling pressure through its sale.
The wallet’s address holds almost 0.6% of PEPE’s total supply, and selling its shares could be detrimental to the asset’s price. Meanwhile, this is speculative, and the true intentions of the blacklist remain unconfirmed.
While this whale is unable to sell his share, other early Pepe buyers have become millionaires after cashing out, as their meagre investments rolled over by multiple folds. For instance, a PEPE whale cashed out $1.97 million in July, growing his initial $200,000 investment by a staggering 886%.
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