June 23, 2024

Pepe Coin has outperformed most cryptocurrencies, racing to a new all-time high this week. Over the past few days, it constantly surpassed expectations, hitting new all-time highs several times. 

Amid this upturn, a smart trader realized 1200% returns on investment as profit in one year of trading the coin. The trader did not limit his activities to PEPE; he traded ONDO and BEAM for massive profits.

Smart Trader Makes Profitable Trades

On-chain analytics platform Lookonchain reveals that a trader has increased the value of his portfolio from $23 million to $65 million, a massive profit of $42 million in just one year. 

According to the report, the trader spent 2,434 Ethereum to purchase 3.97 trillion tokens. Next, the trader sold 124 billion for 350 ETH, valued at $1.27 million. 

The trader still holds 3.84 trillion tokens worth $56.43 million, which yielded 1203% as ROI. The trader also traded ONDO and BEAM and realized an ROI of 288% and 72%, respectively.

Meanwhile, Lookonchain reveals that another smart trader deposited 201.85 billion tokens worth $2.83 million on the Bybit exchange. This investor traded PEPE thrice and made money from each attempt, giving him a win rate of 100%, with a total profit of $2.48 million.

PEPE Hits New All-Time High. Is $0.0001 Close?

PEPE rallied to a new all-time of $0.00001526 on May 23 as the buyers continued to push its rally. While some tokens suffered retracements, PEPE remains bullish and has deviated from the general trend. 

PEPE has shown a bullish recovery pattern on the daily chart from May 20, forming large green candles with higher highs. It flipped the $0.00001395 resistance level to support after breaking above it on May 23.

Although PEPE briefly touched $0.000015 on May 23, resistance from sellers has moved it below $0.00001491. However, PEPE is still trading close to the upper band of the Donchian Channel (DC), which is a strong bullish signal.

Additionally, the relative strength indicator is in the overbought zone above 70 and displays a value of 70.69. Although the RSI is declining, suggesting a possible retracement ahead, it is likely a temporary phase for consolidation.

So, PEPE will likely continue its rally and break above $0.00001491 in the coming days. If this happens, then PEPE will likely continue to rally until it rises to $0.0001 as a new all-time high value.

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