Since April 16, 2023, holders of the meme-token Pepe (PEPE) have realized $160 million in profits – almost the entire amount is due to users who purchased the asset in the first week after launch. This is evidenced by data from an analyst at the trading company Scimitar Capital under the nickname Alex.
The expert analyzed more than 480,000 onchain transactions involving more than 160,000 wallets. And about 4% of all transactions came from a single address.
Alex also noted that the largest wallets belonged to MEV bots, which, among other things, performed “sandwich attacks” and provided JIT liquidity.
According to the study, users who purchased PEPE in the first week after the token’s launch realized $160 million in profits. At the same time, traders who bought the asset in the last week received about $10 million.
According to Alex, before the average PEPE holder is at a loss, with current market liquidity, about $50 million more profit can be realized.
Recall, on May 5, Binance placed PEPE in the innovation zone of the exchange and opened spot trade in the asset.