In a jaw-dropping move, a single individual has just spent almost $1 million on buying the memecoin PEPE, becoming the 10th largest holder of the digital currency. The mysterious buyer reportedly snapped up a whopping 3.79 trillion units of PEPE, paying 422 ETH (equivalent to $871,000) and 100,000 USDC at an average price of $0.0000002563.
PEPE hits the headlines with a jaw-dropping sale worth almost $1 million. Check the details from this latest purchase:
This guy spent nearly 1 million USD buying $PEPE, becoming the 10th holder of $PEPE.
— Lookonchain (@lookonchain) April 26, 2023
He bought 3.79T $PEPE with 422 $ETH($871K) and 100K $USDC at an average price of $0.0000002563 from Apr 19 to Apr 22.
Could he sell all $PEPE without losing money?https://t.co/wL35pEMtoT pic.twitter.com/MiJ28ezczD
While the value of digital currencies could be notoriously volatile, the recent surge in popularity of PEPE has seen its value skyrocket. At the time of purchase, the total cost of buying such a vast quantity of PEPE might have seemed like a gamble. However, with the recent bullish trends in the crypto market, it’s possible that the buyer could see a significant return on their investment.
Interestingly, there’s no guarantee that the value of PEPE would continue to climb, and the buyer would undoubtedly be keeping a close eye on the market to determine the optimal time to sell. However, with their substantial holdings, this big spender has the potential to make a considerable profit if they play their cards right.
The identity of the buyer remains unknown, but this move has already caused a stir in the crypto community. Whether this individual is a savvy investor or simply an eccentric collector remains a mystery; but the purchase supposedly generates plenty of interest and speculation in the coming days.
