Pepe Coin Price Surge: How Smart Investors Made Incredible Profits with 943% ROI
Pepe Coin, a catalyst in the meme cryptocurrency market, has exceeded all expectations by demonstrating a significant increase in value. It achieved a 12% surge, with Pepe Coin being traded at $0.00001136. During this period, a prominent investor named Smart Money earned profits of $14 million with an impressive return on investment (ROI) of 943%.
Breakdown of Strategy for Profit-Taking in $Million
Lookonchain, a renowned blockchain analytics platform, has offered intriguing insights into the success story of the strategic investor Smart Money, who took advantage of Pepe Coin’s remarkable ascent.
Earlier reports from Coinpedia revealed that Smart Money spent $1.56 million USDT to acquire 1.40 trillion PEPE between December 2023 and February 2024.
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In latest developments, Smart Money capitalized on their prior investment in Pepe Coin by selling 140 billion coins, equivalent to 10% of their total holdings during a surge in Pepe Coin’s price, and made a substantial profit of $1.57 million from this transaction, effectively recovering the principal invested amount.
Despite selling a portion of their coins, Smart Money still holds a significant stake of 1.26 trillion Pepe Coins, valued at around $14 million.
PEPE Coin Technical Analysis
Market data from Coinglass also indicates strong activity in Pepe Coin’s open interest (OI) and derivatives trading. The OI rose by almost 12% to $120.11 million, while derivatives volume increased by 24.06% to $2.52 billion. These figures indicate growing interest and activity in Pepe Coin.
However, it’s important to note that the Relative Strength Index (RSI) has reached 75, indicating that Pepe Coin is entering overbought territory. This suggests a potential for a pullback or price reversal if buying slows down.
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As of now, Pepe Coin’s price has increased by almost 12% in the last 24 hours, now being traded at $0.0000113. This price surge was supported by a significant spike in trading volume, which rose by 91.82% to $3.81 billion.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
