In an effort to recover from a significant loss, a crypto investor has recently acquired 67 billion PEPE tokens, worth $1.02 million, from the renowned crypto exchange OKX. This decision comes after the investor experienced a substantial setback in the SHIB market, leading to speculation about the potential for redemption through this new investment.
The investor’s previous financial setback in Shiba Inu, as reported by Lookonchain, occurred during the previous bull run in the cryptocurrency market. At that time, the investor purchased 40.9 billion SHIB for a total of $2.98 million, with market data indicating an average purchase price of $0.00007279, which was close to its all-time high.
Unfortunately, as the market entered a bearish phase, the value of SHIB tokens plummeted, prompting the investor to sell all of their SHIB holdings at a significantly lower price of around $0.0000011 per token. This resulted in a substantial loss of $2.55 million.
This loss amounted to an 85.5% decrease in value, highlighting the high-risk nature of cryptocurrency investments. As of the time of writing, the value of the SHIB token has experienced an 8% surge compared to the previous day and is currently trading at $0.00002734.
Now, with the recent acquisition of 67 billion PEPE tokens, the crypto community is eagerly watching to see if this investor can recover from their previous losses. According to a report from The Crypto Basic, if the PEPE token surpasses the market cap of Shiba Inu, there is potential for a return on investment for the individual.
However, the report also notes that in order for PEPE to surpass Shiba Inu’s market cap, its value must increase to $0.00003582. This represents a significant 221.8% jump from PEPE’s current price. At the time of writing, PEPE is being traded at $0.00001506 per token, indicating a 5% decline in the last 24 hours.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are the author’s own and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, and The Crypto Basic cannot be held responsible for any financial losses incurred.