Lookonchain platform experts said that an unknown trader, who is a holder of the PEPE memcoin, earned more than $61 million on the price jump. However, the investor is unable to withdraw or sell the tokens.
As Lookonchain analysts found out, the address with the memecoins is on the developers' blacklist, so the trader cannot dispose of the assets at his own discretion.
Interesting fact: the said 2,52 trillion PEPE memcoins arrived to the user's address at the token's market launch in April 2023, and he bought them for only 0,013 Ethereum (ETH) (around $26 at the time). This could mean that he is associated with the project team or has provided support to it.
It should be noted that the investor received such a huge amount due to the fact that over the past 24 hours the PEPE rate has increased by more than 76%. The rapid growth of memecoins has ensured Bitcoin , which has surpassed $90,000 in recent days, setting a new all-time high of $93,477.
It is unknown whether the trader will be able to unblock his assets for withdrawal or sale. Perhaps the developers will remove him from their blacklist. Otherwise, his assets will remain frozen for an indefinite period.
