A Monumental Gain: Turned Into $46M

2024-05-29, 02:17

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![](https://gimg2.gateimg.com/image/article/1716948513sdfx.jpeg)
## [TL; DR]
A crypto investor generated 15,000% after investing $3,000 in PEPE memecoin.

The GameStop stock resurgence contributed to the recent PEPE rally.

Several memecoin projects intend to integrate DeFi features to increase the utility of the tokens. 
## Introduction 
2024 has been a very special year for memecoins as they have performed highly since its beginning. CoinGecko points out that [on average the top tokens](https://www.coingecko.com/research/publications/most-profitable-crypto-narratives "on average the top tokens") have so far gained by around 1,312.6%. The interesting thing is that several memecoins that were launched in March such as [Cat in a Dogs World (MEW)](https://www.gate.io/article/35550 "Cat in a Dogs World (MEW)"), [Book of Meme (BOME)](https://www.gate.io/learn/articles/what-is-bome-all-you-need-to-know-about-bome/2822 "Book of Meme (BOME)") and Brett have made it into the [top ten meme coin list](https://www.gate.io/price/view/meme-token "top ten meme coin list"). BRETT and [Dogwifhat](https://www.gate.io/price-prediction/dogwifhat-wif "Dogwifhat") were the greatest memecoin performers during the period.

Generally, though, the memecoins, including DOGE, FLOKI, BONK, SHIB, PEPE and BOME represent a new culture. In this article, we discuss the outstanding performance of PEPE in recent weeks.

## The Mechanics of a Mega-Profit: How PEPE Became a Goldmine
In an incident that sounds like a fairy tale, two memecoin traders gained much after investing in PEPE memecoin. One of the two savvy cryptocurrency traders who invested $3,000 in PEPE memecoin had a return of over 15,000% within one month. By investing in the memecoin he/she turned $3,000 into more than $46,000.

As a fact, on 15 April the unknown person purchased 4.9 trillion PEPE for a total value of $3,000. Currently, such a quantity of the tokens is valued at over $50,000. Later, the trader sold 1.41 trillion PEPE for $7.4 and remains with 3.5 trillion tokens which is around $38, 9 million. Lookonchain, a crypto intelligence firm summarized the transactions in its X post as the following image indicates. 
![](https://gimg2.gateimg.com/image/article/17169485391.jpeg)
Source: [x.com](https://twitter.com/lookonchain/status/1790632009867591866 "x.com")

As you observe in the above picture, Lookonchain illustrates the permutations of what occurred. The same on-chain analytical firms included a graph that indicates the PEPE price movement during the cited period.
![](https://gimg2.gateimg.com/image/article/17169486592.jpeg)
Source: [x.com ](https://twitter.com/lookonchain/status/1790632009867591866/photo/1 "x.com ")

As you note, there was a PEPE coin price dip and bounce during mid-April. This is the price change which some traders capitalized on. Recently, another memecoin trader sold 140 billion PEPE tokens, about 10% of his/her holdings, for $1.57 million. After that sale the trader remained with 1.26 trillion PEPE valued at around $14 million. According to Lookonchain, that traded gained by 943%. 
![](https://gimg2.gateimg.com/image/article/17169487233.jpeg)
Source: [x.com](https://twitter.com/lookonchain/status/1790586640869830666 "x.com")

The two cases show that investing in leading memecoins like PEPE, BONK and Dogwifhat, among others may turn highly profitable. However, there is an equal chance that one may lose much funds if their prices fall in an unpredictable manner.

##  PEPE's Current Market Position - Rising Through the Ranks
At the time of writing PEPE memecoin, with a trading volume of $ 2.38B and a market cap of $ 5.97B, is changing hands at $ 0.00001387. It has gained by 2.65% within the last 24 hours. Although it is ranked 20 within the entire crypto market it is [number 3 within the meme coin category](https://coinmarketcap.com/view/memes/ "number 3 within the meme coin category").

The rest of the statistics shows that PEPE crypto is up trending. For instance, its price rose by 63.5% within the last two weeks and by 86.5% within the past 30 days. As per CoinGecko online data the value of PEPE increased by 932%; a really impressive performance. The following graph shows the <a href="/uk/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a>-based token’s performance for the past one year.

## PEPE Price Movement for the Past 1 Year – CoinGecko 
What is interesting to note is that PEPE gained much between March and May. The existing technical analysis shows a bullish momentum. For instance, the last candlestick in <a href="/uk/price/the-graph-grt" target="_blank" class="blog_inner_link">The Graph</a> is a long-tailed bar which indicates a bullish momentum. Nonetheless, the shorter time frame chart shows that the token is within a pullback. The following is a 7-day chart. 
![](https://gimg2.gateimg.com/image/article/17169487884.jpeg)
PEPE’s 7-Day Price Chart – [CoinGecko](https://www.coingecko.com/en/coins/pepe "CoinGecko")

The tip of the chart shows a fall-back with the last candlestick being a tail-bar.   
## Memecoins: Reflecting a Generation's Disillusionment and Rebellion
Some crypto analysts have indicated that PEPE represents a unique culture which we can relate to the narrative [of the GME saga](https://www.gate.io/blog_detail/3876/volatility-sol-gamestop-meme-coin "of the GME saga"). The analysts have likened the PEPE culture to that of Punk Music Genre which indicates a Generation's disillusionment and rebellion. For instance, punk music became a hit after it had been criticised earlier on.

In general terms, the memecoins have become very popular as a result of some young investors who have seen the investment opportunities that were afforded to their parents unutilized. Therefore, they have started minting their own tokens and pumping them to make money. Hao Yang, the head of financial products at Bybit exchange, is one of the analysts who believe this thesis.

As per [Cointelegraph’s recent publication, Young said](https://cointelegraph.com/news/crypto-trader-46m-3k-pepe-price-soars "Cointelegraph’s recent publication, Young said"), “The success of memecoins can be seen, like punk rock, as a symptom of disillusioned young investors who have seen the opportunities afforded to their parents disappear."

He added, “By printing tokens out of thin air and pumping them to billion-dollar valuations, these creators are showing the absurdity of our current fiat system.”
## The GameStop Connection
Some analysts have attributed [the recent PEPE price surge](https://www.gate.io/price-prediction/pepe-pepe "the recent PEPE price surge") to the GameStop stock resurgence. The value of GameStop’s stock (GME) began rising on 13 May after the return of Keith Gill to social media. As per context, Gill is the individual who led to the 2021 GameStop short squeeze.

Basically, the prices of GameStop’s stock and PEPE started rising around the same period. The value of GameStop shares increased by 111% after the return of Gill. On the other hand, on 13 May PEPE rallied to attain a new all-time high of $0.000010.

Xiaohan Zhu, the CEO of Meter, is one person who believes that the recent PEPE rally is connected to GameStop’s stock price spike. In an [interview with Cointelegraph Zhu said](https://cointelegraph.com/news/crypto-trader-46m-3k-pepe-price-soars "interview with Cointelegraph Zhu said"), “The GME saga may be one of the factors contributing to PEPE's momentum. I attribute the recent board drop in crypto primarily to profit-taking and numerous large-scale projects getting listed on exchanges and thus absorbing much of the market's liquidity.”
## The Power of Community: Social Media's Role in PEPE's Rise
The unique thing about memecoins like PEPE is that they are supported by large communities. Most members of the communities work hard to ensure that a memecoin takes off the ground and rises to greater heights. Most members who are, usually, some investors work hard to brand and market their memecoin. This is a reason why their prices rise sharply after their launch. However, the PEPE coin community has been unique in that it supported the coin from its launch to date. 
## Future of PEPE and Memecoins
Based on its price trajectory the [PEPE memecoin](https://www.gate.io/learn/articles/what-is-pepe/642 "PEPE memecoin") looks robust and bullish which will likely make it grow further. The team is promising to make several advancements and enhancements to make the token standout among its competitors. For example, its current roadmaps has several ambitious initiatives to bolster its security and scalability. They are also working towards improving the user experience and accessibility.

The future of many memecoins looks impressive as well. Most of these projects have plans to integrate decentralized finance ([DeFi](https://www.gate.io/learn/articles/what-is-defi/2815 "DeFi")) features such as decentralized exchanges (DEXs), liquidity provision and yield farming. These new functionalities will likely increase the tokens’ value proposition and utility which may attract more investors.

Read also how to buy PEPE on Gate.io: 
[How to Buy Pepe on Solana (PEPE) ](https://www.gate.io/how-to-buy/pepe-on-solana-pepe "How to Buy Pepe on Solana (PEPE) ")
[How to Buy PEPE Shibarium (PEPE)](https://www.gate.io/how-to-buy/pepe-shibarium-pepe "How to Buy PEPE Shibarium (PEPE)")
[How to Buy Pepe the Frog (PEPEBNB)](https://www.gate.io/how-to-buy/pepe-the-frog-pepebnb "How to Buy Pepe the Frog (PEPEBNB)")
[How to Buy Pepe 2.0 (PEPE2.0)](https://www.gate.io/how-to-buy/pepe-2-0-pepe20 "How to Buy Pepe 2.0 (PEPE2.0)")
[How to Buy Pepe King Prawn (PEPE)](https://www.gate.io/how-to-buy/pepe-king-prawn-pepe "How to Buy Pepe King Prawn (PEPE)")
[How to Buy Optimism PEPE (OPEPE) ](https://www.gate.io/how-to-buy/optimism-pepe-opepe "How to Buy Optimism PEPE (OPEPE) ")
## Conclusion
The story of two traders who gained by 15,000% and 943% after investing in PEPE memecoin indicates the potential such tokens have. Although most of the memecoins do not have utility, some of the projects are adding new features to their ecosystems to increase their value propositions. Basically, community engagement and support are essential for the growth of the memecoin ecosystems.  
## FAQs about PEPE Memecoin
### How high will PEPE go?
The value of PEPE may rise to around $ 0.00007117 by the end of 2025 and $ 0.00006059 by 2030. In the longer term, its value has the potential to rise above this. However, the performance of cryptocurrencies depends on future crypto regulations, risks and global economic conditions.
<a href="/uk/price/liquity-usd-lusd" target="_blank" class="blog_inner_link">Liquity USD crypto</a>
Based on its recent trend, people can invest in PEPE as it has the potential to bring a high return on investment within a short period. However, PEPE, like most cryptocurrencies, is highly volatile and may lead to huge losses. Also, presently, most memecoins have no utility, although some are in the process of integrating DeFi features.
### What was PEPE all time high?
PEPE reached an all-time high of $0.00001574 on 25 May 2024. On the other hand, it attained an all-time low of $0.00000005514 on 18 April 2023. If the memecoin frenzy continues the value of PEPE coin may continue to rise in the future.
### How much is the PEPE worth in dollars?
On the day of writing, PEPE is trading at $0.00001517 after gaining by 60.7% in the last 7 days and by 964.6% within the last one year. It attained its all-time high of $0.00001574 on 25 May 2024.

<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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