SPX6900 is exploding and one whale has made profits in excess of $14 million.
However, as profit-taking begins on SPX, prominent traders are looking toward Pepe Unchained to explode next.
Whale Secures $14M Gain On SPX Position
A trader who entered SPX6900 in Q1 of this year has made $14 million, a 289x return on his initial investment.
Per data from Lookonchain, the whale spent $48.4K on SPX between 29 Jan and 21 March.
After a near-six-month pause, the trader bridged his SPX tokens to Ethereum and began selling on 3 October.
But this is not the only wallet that made significant profits.
Five hours from press time, Lookonchain reported that another early investor had begun selling after spending $161K to buy 7.79M SPX two months ago.
So far, the wallet has sold 638K SPX tokens, totaling $659K.
However, the wallet still holds 7 million SPX worth $5.8 million.
SPX is trading at $0.8421, at breakeven today, up 126% this week and 2,864% this month.
The project has garnered significant attention thanks to attention from Murad Mahmudov, a meme coin trader who dubbed it his highest-conviction plays.
Murad has recently gained notoriety in the meme coin space for ambitious price predictions, such as targeting a $100 billion market cap for SPX.
Most recently, the outspoken trader said he is “never selling his SPX bags” after on-chain sleuth ZachXBT publicly exposed his suspected addresses last week.
Murad’s unwavering conviction has given smaller investors confidence, encouraging them to buy in and collectively push up the SPX price.
This underscores the power of influencers in the crypto space, which is partly the reason for Pepe Unchained’s rapid ascent in recent months.
Pepe Unchained is currently undergoing a presale, where it has raised $19 million – that’s more than what Ethereum raised in its ICO.
Countless big names have backed the project, such as ClayBro, who boasts 130K subscribers on YouTube. Let’s take a closer look.
Is this the next SPX6900? Pepe Unchained Raises $19M at Presale
Pepe Unchained is the first meme coin with its own blockchain.
While piggybacking on the ubiquitous interest of Pepe coin, Pepe Unchained’s meme coin-focused blockchain helps tackle Ethereum’s scalability issue, making the Ethereum network accessible to even the smallest of traders.
Imagine trading meme coins with Ethereum-grade security but with lower fees and 100x faster speeds. Now you can with Pepe Unchained.
And here’s something else: with $19 million raised, they’re running a developer grants program to pay builders to launch apps and tokens within the ecosystem.
It’s a blueprint that could expedite ecosystem expansion and, therefore, user adoption.
The chain is also expected to have a built-in block explorer, a dedicated Ethereum bridge, a decentralized exchange, a staking mechanism, and more.
With all of that in mind, Pepe Unchained stands well apart from any other meme coin on the market. It’s more comparable to something like Solana, Base, or even Ethereum, except with its culture rooted in memetics.
Analysts are going crazy over this. ClayBro told his subscribers it can 100x.
Meanwhile, smart money is buying in. Etherscan data shows that one wallet made a $46K purchase earlier this week.
Traders are vying to get in early because the $PEPU price will rise as the ICO advances.