• A trader netted a massive $1.7 million in profits by buying more than four trillion PEPE coins just before this massive rally.
• Amid the current price surge, PEPE is leading the memecoin fest leading it to become the 41st largest cryptocurrency by market cap.

The memecoin crypto space is currently bustling with activity Pepe (PEPE), the competitor to Dogecoin and Shiba Inu is making much noise. As per the latest report, a crypto trader has recently netted 38,675 percent profit by trading PEPE which is already up by more than 500 percent in just over the last two weeks.

As per the blockchain tracker LookonChain, the crypto trader purchased a total of four trillion PEPE memecoins at a price of 2.1 Ethereum, worth $4,140 back then. As it turns out, the trader has sold more than 75 percent of its PEPE coin holdings netting more than $1.705 million in profits just within a span of two weeks. The trader now holds a balance of less than one million in his kitty. Data from LookonChain notes:

A SmartMoney bought 4 trillion PEPE at a cost of 2.1 ETH ($4,410) and made approximately $1.71 million! And this guy also traded a lot of MEME coins. The SmartMoney discovered PEPE and spent 2.1 ETH ($4,410) to buy four trillion PEPE six hours after PEPE was listed.

After each price surge in PEPE, he sold part of PEPE instead of selling all of them. He sold a total of 3.27 trillion PEPE for $906,000 and currently holds 700 billion PEPE worth $808,000.

The PEPE coin rally

The PEPE Coin has been currently leading the rally in the memecoin space and has become the undisputed cryptocurrency among its peers. As of press time, PEPE is trading 128 percent up at a price of $0.00000365 with a market cap of over $1.4 billion. By its market cap, PEPE ranks as the 41st largest cryptocurrency.

As per the on-chain data tracker, the trader who mostly transacts on the Ethereum blockchain has netted triple-digit profits over the two-other lesser known memecoins. The data from LookonChain notes:

“This smart money has transactions on almost every chain, and 97% of assets are on Ethereum. He also bought BULL at $0.00075, now at $0.0045, which increases 500%. And bought BABYPEPE at $0.00000000024, now at $0.00000000123, which increases 415%.”

PEPE has once again triggered the memecoin fest and grabbed the limelight away from the top players such as Doegcoin (DOGE) and Shiba Inu (SHIB).

Recently, there’s quite some interesting activity spotted with these two of the biggest memecoins. Over the last month, dormant whale address inactive for the last 9.3 years and holding millions of DOGE coins turned active once again.

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