Markets
Crypto Trader Returns After Ten Months of Inactivity, Making Millions as Market Crash Hits
After a continuous decline in investor sentiments, the cryptocurrency market has hit rock bottom as all cryptocurrencies face major price drops. Starting with the Bitcoin Price decline to $56,382, altcoins are also struggling. With the decline, the selling pressure is quite high in the market as crypto traders are trying to pocket whatever gains they can. This is because of the fear that Bitcoin will fall further, initiating a bear market condition. In this sell zone, meme coins
witnessed the biggest loss as the market value dropped by 7.76%. In such a sell-off, an inactive crypto trader also returned to the market by selling his meme coins, creating millions despite the market crash.
Cryptocurrency trader earns $112,000 with PEPE.
A crypto whale 0x4a2 (“dimethyltryptamine. eth”) has returned to the crypto market after ten months, swapping the PEPE token to take any remaining profits. He exchanged 10B PEPE, worth $112K, for 32.73 ETH at a price of $0.0000112118. The crypto trader has been holding these PEPEs for a long time and is among the earliest holders. His transaction history reveals PEPE ownership since April 14, 2023, shortly after the launch.
From this, it can be concluded that Pepe Coin
is losing its hype and may not recover any time soon. The crypto trader still has 1.99T PEPE, worth $22.35M. These holdings are offering a 59,600% increase since the purchase, making him millions even in this market crash.
Crypto Trader Holds These 5 Cryptocurrencies
Whale’s portfolio 0x4a2 (“dimethyltryptamine. eth”) reveals the largest holdings of these five cryptocurrencies, including PEPE, WOJAG, MOG, ETH, and USDC. Of these, the largest holding is PEPE, with 1.99 trillion PEPE worth $22.348 million. The second largest holding is WOJAK, which is also a meme coin, and the trader holds 711.739M WOJAK ($759.532), followed by 147.5B MOG ($238.935K), another popular meme coin. Finally, he holds 2.72 ETH ($9.813) and 6,000 USDC, a popular stablecoin worth $6,000.
The largest share of cryptocurrency traders belongs to the meme coin category, proving that the hype around them is true. This year has been quite bullish for meme coins, and the biggest gainers of the year are also meme coins.
Keep reading What Bitcoin’s Recent Price Sell-Off Means for Your Portfolio