Home
News
- 1 Pepe 2.0 became a source of gaining massive profits for crypto investors.
- 2 Recently, the token gave out huge payouts in the form of return on investments.
Markets are full of wonders. They may ruin someone’s investment in a moment and may cause a windfall to another. Something like this happened in the crypto market lately. A meme coin trader miraculously turned a $12,000 investment into a staggering $1.05 million within just 10 days. The token he invested in was Pepe 2.0 (k$PEPE2) which has been on a tear recently.
How the incident unfolded
As per the report released by Lookonchain, the trader started with an initial investment of $9,000 only. He slowly amped up the amount as the price of Pepe spiked. Eventually, he ended up selling 5.2 trillion tokens for $614,000.
Notably, Pepe 2.0 is an offshoot of $PEPE which is inspired by the cartoon character Pepe the Frog. The original protocol launched this token on April 17, 2023. Some experts warned investors about its ability to practice arbitrary measures. They pointed out that 2.0 can blacklist functions and transaction taxes whenever they want.
Still, the market participants took great interest in investing in this spinoff token. Right now, it is listed among the top 100 digital assets and taking progressive strides consistently. Apparently, the trader took advantage of Pepe 2.0’s price spike that happened last month.
In the initial stage, the trader focused on amassing tokens. After July 2, when the price of crypto saw an uptick, he made his move. He invested 2.3 trillion tokens for 215 Ethereum (ETH) which now makes up $398,000. The best that happened to the investor is, he still owns a large amount of tokens even after selling a big lot.
Moreover, this is not the only instance where Pepe 2.0 turned out to be a bonanza. Another trader made $176,000 in just 24 hours with a mere $900. There is one more occurrence where an investor made $1.14 million with just 0.125 ETH. And this happened within just a few days of buying the tokens.
But despite all the instances of unexpected gain, analysts are advising investors to be prudent. Their argument is that cryptocurrency is highly volatile and its value can take a plunge any time.
Other stories of crypto investment success
The crypto market is rife with stories of investment success. Since its advent, it has given plenty of chances for the investor to earn massive sums. Bitcoin has literally made many people millionaires. All these stories inspire crypto investors to continue with their journey.
Erik Finman, one of the earliest investors of Bitcoin became a millionaire soon. He invested a measly $1000 that he took from his grandma and converted it into a massive $ 1 million in a duration of 2 years. He put the entire amount into Bitcoin and become one of the most successful investors in the history of cryptocurrency.
The crypto space is brimming with such examples. It keeps surprising the community with such throw-ins from time to time. With the emergence of meme tokens and a growing number of investors, crypto is gaining more ground.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
