According to reports, an experienced cryptocurrency dealer has transformed 2,000 US dollars in greater than 43 million US dollars by investing within the Memecoin Pepe in its top rating, despite the intense volatility of the tokens and the dearth of technical value.
According to Blockchain Intelligence platform Lookonchain, the dealer achieved a 4,700-time investment in popular cryptocurrency with frog motifs (PEPE).
“This OG only issued $ 2,184 US Depe ($ 43 million).
Source: Lookonchain
The dealer made a profit of over $ 10 million, although Pepe's price in comparison with the all-time high of 0.00002825 fell over 74%, which he achieved on December 9, 2024, as CoinTelegraph Markets Pro Data shows.
Pepe/USD, all-time diagram. Source: CoinTelegraph Markets Pro
Memoins are considered among the most speculative and volatile digital assets, whereby price actions are largely controlled by online enthusiasm and social mood and never to fundamental usefulness or innovation.
Nevertheless, they’ve proven to attain life -changing returns. In May 2024, one other former PEPE investor, based on Onchain data, achieved $ 27 in $ 52 million $ 1.9 million.
Memecoins steal the limelight of old coins
Despite their intrinsic lack of advantages, memoins continued to have more established cryptocurrencies within the highlight, Stella Zlatareva, shipping editor at Digital Asset Investment Platform Nexo, said CoinTelegraph:
“High-beta, i.e. fleeting tokens, steal the headlight. Example, Memecoins rose on average by 5.6%, with Doge, Pepe and Floki reacted to the rate-lower optimism and the broader cryptopian.”
Top 100 cryptocurrencies, weekly performance. Source: Cryptobubbles
While the demand for memoins has risen to investors, it might also be that capital releases from more established assets. For example, Solana (Sol) has fallen by greater than 51% because the start of the official Trump token in January in January, based on CoinTelegraph data.
Memecoins “Do not are likely to raise a much external flow of capital; as a substitute existing ecological system capital 'Round-Robins' from one MEM to the following,” said Dan Hughes, founding father of the decentralized financial platform Radix, to CINTELGRAPH and added:
“Even within the case of Trump, many of the incoming liquidity from the discharge of other crypto assets, people sold their crypto portfolio to purchase Trump in extreme Fomo [fear of missing out]. “”
Sol/USDT, 1-day diagram. Source: CoinTelegraph/Tradingview
Insider fraud and fraudulent activities have plagued the Memecoin industry, and the US supervisory authorities pay attention to. On March 5, the New York legislature presented a laws that aimed to guard crypto investors from carpeting and similar insider frauds shortly after the scandal concerning the token of the Libra (Labra), which was approved by the Argentine President Javier Milei.
