On-chain data reveals that a savvy crypto trader has netted a staggering 3,263,900% profit from a new Dogecoin (DOGE) and Shiba Inu (SHIB) rival.
According to blockchain tracker Lookonchain, the investor bought over 2.5 trillion of meme coin Pepe (PEPE) using $25 worth of Ethereum (ETH).
The value of the purchased PEPE is now $816,000, meaning the trader saw a staggering 32,000x profit.
Lookonchain also notes that the trader has traded other “shitcoins” over the last two years, netting about $2 million in profit.
“This guy is really good at trading shitcoins! He bought 2.52 trillion PEPE ($816,000 currently) with 0.013 ETH ($25), which made him a 32,000X profit.
He has traded 3,000+ shitcoins in the past 2+ years and probably realized ~$2 million in profit.”
Source: Lookonchain/Twitter
Another example would be the investor’s purchase of data-trading blockchain Machine Exchange Coin (MXC). The blockchain tracking platform found that they bought MXC using 0.5 ETH in June 2021
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