According to Alex, an analyst at trading firm Scimitar Capital, since last April 16, 2023, the holders of meme token Pepe (PEPE) have made a profit of $160 million.
According to him, almost all of this amount comes from users who bought the asset in the first week after its launch.
The expert has analyzed more than 480,000 blockchain transactions involving more than 160,000 wallets. At the same time, about 4% of all transactions fell on one-way participation.
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The analyst has also pointed out 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 bought PEPE during the first week after the token's launch made $160 million in profit. At the same time, traders who bought the asset in the last week received around $10 million.
According to Alex, before the average PEPE holder loses, with the current liquidity in the market, around $50 million more profit can be made.