Ethereum Memecoin $PEPE Hits New All-Time High

In a bullish trading session, Ethereum’s largest capped memecoin, $PEPE, has surged 10% to reach a new all-time high of $0.00001577. This remarkable price increase reflects growing interest and investment in the memecoin.

Prominent investor James Wynn, known on Twitter as jwynn.eth (@JamesWynnReal), deposited 491 billion $PEPE, worth approximately $7.54 million, into Binance. Wynn has been vocal about his belief that $PEPE remains severely undervalued despite its recent gains.

His confidence is bolstered by his previous investment, where he spent just $8,524 to acquire 2.83 trillion $PEPE, now valued at $44.4 million, yielding substantial profits.

jwynn.eth(@JamesWynnReal) deposited 491B $PEPE($7.54M) into #Binance before saying that $PEPE is still severely undervalued.

He previously spent $8,524 to buy 2.83T $PEPE($44.4M currently) and made huge profits on $PEPE.

He has 476.8B $PEPE($7.48M) left currently. pic.twitter.com/9flTGYpNxw

— Lookonchain (@lookonchain) May 25, 2024

Currently, Wynn holds 476.8 billion $PEPE, valued at $7.48 million, maintaining a significant position in the memecoin. This strategic move underscores his continued faith in $PEPE’s potential for further appreciation.

Moreover, another savvy investor, dubbed “smart money,” has also profited significantly from trading $PEPE. This investor, who has made $3.49 million in profits, opened a position in $PEPE on May 14 at approximately $0.00001046. With the current price surge, their profits have soared to $1.83 million, representing a 43% gain.

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