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Trader Wins $46 Million in PEPE Coins, Raises Suspicions of Insider Trading

A crypto trader made headlines after turning a modest $3,000 investment into over $46 million by trading Pepe Coin (PEPE). On-chain tracking platform Lookonchain highlighted this impressive benefit. Its return reached 15,718x.

In fact, the trader's success story highlights the volatility and potential of memes. However, this raises questions about the timing and knowledge behind such transactions.

PEPE Coin Trader’s Remarkable Profit Sparks Market Speculation

Lookonchain explained that the trader initially invested around $3,000 on April 15, 2023 to purchase 4.9 trillion PEPE tokens. Since then, the value of PEPE has increased significantly. This allowed the trader to sell part of his holdings to make significant profits.

The trader sold 1.41 trillion PEPE for $7.4 million and 255 billion PEPE for around $2.3 million. Despite these sales, the trader still holds 3.5 trillion PEPE. Worth approximately $38.9 million, at current prices.

“Their total revenue on PEPE is approximately $46.3 million,” she said. I have explained Watch on the channel.

Commercial transactions to purchase 4.9 trillion PEPE.
Commercial transactions to purchase 4.9 trillion PEPE. Source: X/Loconchain

However, the purchase date raised questions within the crypto community as it was close to the PEPE launch time. Additionally, on the same date, on-chain data revealed that a trader exchanged 20,000 Timeless (LIT) tokens, worth approximately $2,256, to purchase 3.4 trillion PEPE.

Given LIT's relatively obscure status and market cap of just $3.6 million, the decision to trade LIT for PEPE at this time indicates a level of insider knowledge.

On April 15, 2023, the LIT token was trading at $0.111814, in stark contrast to its current price of $0.001539. This has increased speculation about the possible internal status of the stores. However, the exchange proved timely and extraordinarily profitable.

Learn more: PEPE Price forecast 2024/2025/2030

LIT price performance.
LIT price performance. Source: Queen Gekko

Regardless of internal rolling conditions, experienced PEPE part A huge increase. Data from CoinGecko indicates that PEPE hit a new all-time high of $0.00001151 today. Record his second record this week. With a market capitalization of $4.68 billion, PEPE now ranks third among meme coins. trailing only Dogecoin (DOGE) and Shiba Inu (SHIB).

PEPE's recent success can be attributed to renewed interest in the origins of memes following a resurgence Keith Gil. Also known as "The Roaring Cat". Gill, best known for his role in the GameStop stock market frenzy, recently resurfaced on social media, sparking a wave of speculation and investing in memes and stocks.

BeInCrypto reported that Generation's return led to significant gains in coins like Roaring Kitty (KITTY) and GameStop (GME), with the price of GME rising 3,814% in the past week alone.

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