Main navigation

Early Pepe Investor Turns $260 Into $8 Million

Fri, 05/05/2023 - 16:19
article image
Alex Dovbnya
An early investor in Pepe (PEPE), a meme-based cryptocurrency, has turned a humble $260 investment into nearly $8 million, according to blockchain intelligence firm Arkham
Early Pepe Investor Turns $260 Into $8 Million
Cover image via
Read U.TODAY on
Google News

In a stunning turn of events, an early investor going by the alias dimethyltryptamine.eth has seen his modest investment of $260 in the meme-based cryptocurrency Pepe ($PEPE) balloon to nearly $8 million, according to blockchain intelligence firm Arkham.

The Pepe meme coin has seen a massive price increase. Today, it has so far added another 125.3%, according to recent CoinGecko data.

Now ranking 40th in market capitalization at an impressive $1.57 billion, $PEPE's surge has defied early skepticism of its potential as another meme-based cryptocurrency.

With a 24-hour trading volume exceeding $1.16 billion, it's clear that $PEPE is gaining serious traction among investors.

The May 5 listings of PEPE on high-profile exchanges like Binance and are significant milestones, lending increased legitimacy to the coin and opening it up to a wider pool of potential investors.

Dogecoin (DOGE) Creator Reveals How Much He Missed on Doge
Arkham also reports that dimethyltryptamine.eth, whose true identity is not publicly known, is the holder of a collection of 12 Milady NFTs, a popular digital art series, which further boosts his digital portfolio.

His tenacious hold on his PEPE tokens, in spite of the significant price increase, highlights a prevalent trend of long-term holding strategies among cryptocurrency investors.

However, considering the inherent volatility of the cryptocurrency market, it remains uncertain whether PEPE can sustain its upward trajectory.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at