Pepe (PEPE) had an incredible debut in April 2023. The asset gained mass appeal, and many believed it would be the next Shiba Inu (SHIB). PEPE climbed to an all-time high of $0.00002803 in December of 2024. Early PEPE investors became millionaires after the asset hit an all-time high. Let’s discuss how one trader turned an investment of just $215 into more than $1 million.
How One Pepe Investor Turned $215 Into $1.06 Million
According to a Reddit post by a CoinMarketCap community member, a trader by the name of dimethyltryptamine.eth bought 5.9 trillion PEPE coins for 0.125 Ethereum (ETH), worth around $215. The price of one coin must have been around $0.00000000003644. The address sold 2 trillion PEPE coins for $1.06 million.
The post highlights another Pepe millionaire, who purchased 5.4 trillion coins for 1 ETH, worth around $2100. The address sold 3.42 trillion coins for 929 ETH, making a profit of $1.77 million.
Can You Still Make It Big With The Memecoin?
One of the issues with memecoins is that they do not have real-world use cases. Moreover, they are subject to heavy volatility. A key factor for making it big with a memecoin is to enter early and sell when prices are high. Identifying a good project at its early stage is no easy task.
Shiba Inu (SHIB) and Pepe (PEPE) have seen big success stories after their respective debuts. However, their rallies were short-lived. Both have seen drastic price corrections since their peaks. SHIB’s price has fallen by 86.3% from its all-time high of $0.00008616. PEPE’s price has also faced a similar fate. The frog-themed memecoin’s price has dipped by nearly 67% from its peak.
Also Read: Pepe Price Prediction For 2030, 2040, and 2050
While there is a chance that PEPE will reclaim its all-time high, another massive rally may be unlikely. While it is still possible to make million-dollar returns, the investment may need to be more than just $215.