Bitcoin breaks record again thanks to Trump just as Pepe trader turns $27 into a $52 million payout

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Last Updated on 16 December 2024 by CryptoTips.eu

Bitcoin sharpened its record price again in the night from Sunday to Monday. Donald Trump gave hints that the United States does indeed want to create a Bitcoin reserve, which caused the price to rise again.

At the time of writing, Bitcoin is trading at $104k. The highest price recorded last night was $106k.

 

Pepe, the political memecoin featuring the image of a frog which commentators claim is  a symbol of the Republican Party’s “alt-right” wing, continues to turn investors into millionaires. In 2023, a young investor already became a millionaire with an initial investment of only $263.

Now there’s a story about an investor who started with only $27 and cashed out a profit of $52 million. Twitterati claim this person is a Pepe insider, in other words someone who owned Pepe coins before they were put up for sale.

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Memecoins have a bad reputation. Not only are they very volatile, but according to critics they are of no use whatsoever. Dogecoin, still the biggest memecoin, was invented as a joke in 2013 by IT nerds Billy Markus and Jackson Palmer, who tried to show that investing in Bitcoin and other digital currencies was useless. Ironically, their coin became so popular that Dogecoin is now worth billions of dollars.

At the beginning of last year, the political memecoin Pepe was launched to great fanfare, a memecoin with the image of ‘Pepe the Frog’, a cartoon character that has served as a symbol of the American ‘alt-right’ (what we call the far right in Europe) since the first election of Donald Trump in 2016. It was therefore very controversial already at its launch. Coinbase decided not to allow it on their platform at first, but when several crypto fans threatened to boycott it because of this, Coinbase eventually agreed and allowed Pepe for trading.

The popularity of the memecoin has increased incredibly since its inception. This year, Pepe is the fastest growing memecoin with a gain of some 1,600%. Since its first day of trading, Pepe has already risen 41,000%.

One investor did even better. Lookonchain, the crypto research channel, showed last week that someone recently made a profit of $52 million through Pepe, with a deposit of just $27 about 600 days ago. However, critics on Twitter are convinced that it is a Pepe insider (aka someone on the development team of the cryptocoin itself).

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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