Massive Profit-Booking by PEPE Coin Trader Sparks Doubts of Insider Trading

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Massive Profit-Booking by PEPE Coin Trader Sparks Doubts of Insider Trading

The current rally in GameStop Corp (NYSE: GME) on Wall Street has provided a strong boost to the entire meme coin sector with the Ethereum-based meme coin minting more than 40% profits in the last three trading days. As of press time, PEPE Coin is trading at a price of $0.00001064 with its market cap crossing $4.5 billion. PEPE Coin traders have been minting heavy profits with one such trader turning a mere $3,000 investment into a staggering $46 million.

As per data provided by Lookonchain, the trader invested $3,000 into PEPE last year on April 15, 2023, thereby purchasing 4.9 trillion PEPE tokens. On the other hand, the one-year returns for PEPE stand at a staggering 575%.

The trader offloaded 1.41 trillion PEPE tokens for $7.4 million and another 255 billion PEPE for roughly $2.3 million. Even after these transactions, the trader retains 3.5 trillion PEPE tokens, which are currently valued at approximately $38.9 million. As a result, their total profit comes closer to $46 million.

Earned more than $46M on $PEPE with only $3K, a gain of 15,7...


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Massive Profit-Booking by PEPE Coin Trader Sparks Doubts of Insider Trading