An early investor of the meme-inspired crypto PEPE has sent shockwaves across the market with a stunning demonstration of crypto trading skills.
- The price of PEPE plunged by about 20% after a multisig wallet was updated and developer manipulation fears were voiced. A large holder of Pepecoin shelled out 320 Ether, then worth about $529,000.
- When the time was right, they did something that could only be called a lesson in crypto strategy.
- When the market was at its highest, and PEPE became increasingly famous, they sold the last one trillion tokens for a staggering 537 ETH.
- According to a post on X that was shared by the on-chain analytics tool Lookonchain, this person spent 0.0183 ETH ($36.73) to buy 1.69T PEPE within 30 minutes after PEPE started trading, then sold for 1,001 ETH ($1.73M), realizing a gain of 54,725x.
- Officially, PEPE alleged that three former team members hacked into the multi-signature wallet, stole 60% of the tokens, and then deleted themselves and all social media accounts, resulting in the sale of 16 trillion PEPE.
- X user Pauly thinks PEPE’s official “truth” has misled the public and wonders why it took three days to come out. He revealed that the official PEPE team had stored at least nine wallets full of tokens for a total of between $16 and $17 million.
- Furthermore, Crypto_Noddy alludes to many inaccuracies in the open letter, such as the claim that no multi-signature person left or was removed.
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