Pep coin PEPE/USD, a meme cryptocurrency, has skyrocketed by a staggering 4,366% in just over 30 days, according to Coinmarketcap. This prompted several early investors to achieve impressive returns on their investments.
What happened: However, a crypto trader that recently bought a whopping 962.3 billion PEPE coins is estimated to have lost around $541,000 after the coin fell 30%, according to data from on-chain analytics platform Lookonchain.
In the transaction, which took place over the past two days, the buyer used 70 WBTC ($2.07 million) and 470 ether ETH/USD ($937,000) to make the purchase.
The average purchase price for the coins was $0.000003122.
See more: Is Bitcoin a Good Investment?
Why it matters: PEPE rose on the Saturday after binance announced to be listed on the crypto exchange.
Binance said they will list PEPE and Floki FLOKI/USD in their “innovation zone” which allows users to deposit their coins on the platform, with spot trading starting on May 6th.
Last month, a crypto trader made a 1 ETH investment in PEPE and flipped it in 70 ETH.
Price promotion: At the time of writing, PEPE was trading at 0.000002535, down 1.16% over the past 24 hours. according to Benzinga Pro.
Continue reading: Bitcoin, Ethereum, Dogecoin tumble after Binance temporary pause in retreat: Analyst Says Apex Crypto is set to hit $30k, $40k and even $50k this year
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