Memecoins continue to make experienced investors profit. This time, the meme cryptocurrency that made a trader transform around US$8.5 thousand into more than US$12.8 million was PEPE, a frog-themed meme coin.
According to a post on X (formerly Twitter) from the on-chain analyst known as Lookonchain, the trader achieved a gain of more than 1,500 times. In addition to PEPE, the investor also traded the BOBO and ANDY cryptocurrencies recently, earning another US$818 thousand.
The investor in question is jwynn.eth. He spent US$8,524 to purchase 2.83 trillion PEPE in the initial stage.
Afterwards, the trader sold 1.81 trillion in PEPE for US$4.57 million. He currently has 1.02 trillion in PEPE (around US$8.25 million) in three portfolios. As Lookonchain highlighted, the total profit in PEPE is around 12.8 million, a gain of 1,503 times.
“jwynn.eth (@JamesWynnReal) spent $8,524 to buy 2.83 trillion PEPE in the early stage and sold 1.81 trillion PEPE for $4.57 million. He currently holds 1.02 trillion PEPE ($8.25 million) in three portfolios. PEPE’s total profit is approximately US$12.8 million, a gain of 1,503x!”
Although it fell 6.5% in the last 24 hours, the price of PEPE has risen by around 50% in the last week, according to data from CoinGecko.
Trader makes significant profit with memecoins
The investor targeted by Lookonchain’s analysis also managed to make good profits with the cryptocurrencies BOBO, ANDY, JOTCHUA, BIRDDOG and BRETT in the last 2 days.
According to on-chain data analysis, trader investments in these five tokens are currently “in the black”. The profit from the BOBO token is approximately US$430 thousand and the profit from ANDY is approximately US$388 thousand.
However, Lookonchain also noted that the trader does not always win. This is because the cryptocurrencies he trades are not always profitable. By checking all of his transactions, analysts found that he traded a total of 20 currencies, of which only 9 were profitable, with a win rate of 45%.
He also bought some scam coins like many investors. See below the detailed table prepared by Lookonchain in its analysis:
