This Pepe Investor Made $1.77 Million: Here’s How
Pepe (PEPE) has been one of the best-performing cryptocurrencies of the last year. Since its launch in April 2023, the frog-themed crypto has rallied by many thousand percent. Investors who got in early have made millions of dollars in profit.
Also Read: PEPE and BONK Price Prediction For September 2024
Pepe Investor’s Success and Future Performance Predictions
Pepe Investor Makes $1.77 Million
According to data from LookOnChain, one investor made $1.77 million with frog-themed crypto. The crypto analysis firm highlights that the investor spent 200,000 USDC to buy 170 billion PEPE on Oct. 20, 2023. The investor held on to the tokens till July 25, 2024, selling them for $1.97 million. The investor’s holdings had risen by a cool 886%.
How Will the Memecoin Perform in September 2024?
The asset has faced quite a correction in the last few days, falling 0.9% in the weekly charts and 33.6% over the previous month. Although the cryptocurrency has dipped following Bitcoin’s (BTC) march to sub $60,000 levels, it is still up by 2.1% in the daily charts, 0.4% in the 14-day charts, and 834.6% since late August 2023.
Also Read: Shiba Inu: You Can Now Become a SHIB Millionaire For Just $14
Predictions for PEPE’s Future
According to CoinCodex data, PEPE could hit a new all-time high in September. The platform predicts the asset will hit a new peak of $0.00001749 on Sept. 18, 2024. CoinCodex data suggests that the meme coin will continue rallying throughout September, hitting a peak of $0.00002656 on Sept. 26, 2024.
Also Read: Shiba Inu: Shibarium Hits Major New Milestone: Will SHIB Reach $0.01?
Impact of Federal Reserve’s Interest Rate Cuts
The positive outlook for PEPE in September could be due to the Federal Reserve announcing its first round of interest rate cuts from next month.
A rate cut could increase investments in risky assets, such as cryptocurrencies. Memecoins, like PEPE, are more dangerous than regular crypto assets and could see an even bigger price spike.
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