April

<div class="playHtListenArea" style="display:none;margin: 0;">
		<div id="playht-audioplayer-element" data-play-article="https://crypto.ro/en/?p=20990" data-play-audio="https://media.play.ht/full_-NTP0vLzx0lVBAFP67nm.mp3?generation=1681916418706082&alt=media">
		</div>
	</div>
	A crypto investor recently swapped 0.125 ETH, then worth $250, for 5.9 trillion PEPE tokens, which are now valued at $1.02 million.
However, the investor&#8217;s ability to cash in on this incredible profit may be hindered by liquidity issues surrounding the token.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
The SmartMoney is the luckiest guy I&#39;ve seen recently.
He spent 0.125 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> ($251) to buy 5.9T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$PEPE</a> ($1.14M currently) 4 days ago.
If he sells at the current price of $0.0000001933, he will get a profit of ~$1.14M, more than 4,500x.<a href="https://t.co/cUqMO6zIVO" rel="nofollow" target="_blank">https://t.co/cUqMO6zIVO</a> <a href="https://t.co/Ex5voyRvsa" rel="nofollow" target="_blank">pic.twitter.com/Ex5voyRvsa</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1648524295994494977?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 19, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Grzegorz Drozdz, the market analyst at Conotoxia Ltd., explained that it would take 46,200 years to liquidate the investor&#8217;s PEPE tokens, assuming non-declining demand.
Attempting to sell the tokens more quickly could result in the price dropping below the purchase level. This scenario has occurred before with Gurgavin Chandhoke&#8217;s memecoin, <a href="https://www.youtube.com/watch?v=lT9Pimq6v7k&amp;ab_channel=Coffeezilla" rel="nofollow noopener" target="_blank">Pump Coin</a>, which reached a $4.8 billion market cap, but Chandhoke was unable to sell due to a lack of market demand.
Memecoins have experienced surges in value, turning some early investors into millionaires on paper. However, the difference between asset valuations and real cash held can be stark, as illustrated by the PEPE token investor&#8217;s predicament.
The PEPE token, a Pepe-the-Frog-themed memecoin, has experienced a 240% increase in value over the past day, reaching a high of $0.000000342851, according to Coinmarketcap.
<img decoding="async" class="alignleft size-full wp-image-20993" src="https://crypto.ro/en/wp-content/uploads/2023/04/PEPE_1D_graph_coinmarketcap-1.png" alt="PEPE 1D graph coinmarketcap 1" width="929" height="400" srcset="https://crypto.ro/en/wp-content/uploads/2023/04/PEPE_1D_graph_coinmarketcap-1.png 929w, https://crypto.ro/en/wp-content/uploads/2023/04/PEPE_1D_graph_coinmarketcap-1-300x129.png 300w, https://crypto.ro/en/wp-content/uploads/2023/04/PEPE_1D_graph_coinmarketcap-1-768x331.png 768w, https://crypto.ro/en/wp-content/uploads/2023/04/PEPE_1D_graph_coinmarketcap-1-750x323.png 750w" sizes="(max-width: 929px) 100vw, 929px" title="Crypto investor turns $250 into $1.02 million with PEPE tokens 2">
The token&#8217;s creators branded it as &#8220;the most memeable memecoin in existence&#8221; and declared that &#8220;the dog days are over&#8221; in reference to rival dog-themed memecoins.
While the PEPE token&#8217;s surge has made some investors millionaires on paper, realizing those profits may be difficult due to liquidity challenges in the memecoin market. The investor holding $1.02 million in PEPE tokens has yet to sell.
<h2 id="red-flags-of-the-pepe-token">Red flags of the PEPE token</h2>
The recent excitement around the PEPE token demands caution from potential investors due to several red flags.
A concerning level of centralization exists, with six wallets holding over $1 million in PEPE each, giving them significant power over the token&#8217;s price.
These wallets received their supply simultaneously just four days ago, raising questions about possible coordination and intentions.
Furthermore, a suspicious trader&#8217;s story of turning $300 into millions may be a honeypot to attract investors.
This wallet shows no prior trading activity, hinting at a close connection with PEPE&#8217;s creators. With no clear use case beyond speculation, investors should approach PEPE with extreme caution.

Crypto investor turns $250 into $1.02 million with PEPE tokens

목차

crypto.ro global

2023년 4월 19일에 게재된 다른 기사

Gary Gensler Fails Before Congress, Can’t Answer if Ethereum is a Security – Who Can Provide Regu...

Square Enix Strengthens Commitment to Web3 Gaming with New Partnership

Ethereum Classic (ETC) and Monero (XMR) Investors Move to Buy Into Sparklo (SPRK) Presale

Could Apple’s High-Yield Savings Account Make US Banks Rethink?

Tesla Holds Its BTC For Third Consecutive Quarter, Beats Revenue Estimates

TABOO finalising lucrative deal with an ex-JP Morgan superstar while $TABOO token grows by 1000%+...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!