Crypto Trader Makes Millions on Trump-Themed Memecoin
A crypto trader made a massive profit on a Donald Trump-themed memecoin that has skyrocketed in value this year.
According to Lookonchain , a wallet linked to the trader known as Gigantic Rebirth (GCR) used $540,700 in USDT to purchase 1.08 million MAGA (TRUMP) tokens at an average price of $0.50 in late 2023.
Over the weekend, this wallet transferred all its TRUMP tokens to the BTSE exchange, resulting in an $8.3 million profit.
Another wallet, tagged “GCR: Address 1,” still holds 936,279 TRUMP tokens valued at $7.23 million, showing profits of over $6.5 million.
READ MORE:
Solana (SOL) Shows Resilience – What’s Next?TRUMP, currently trading at $7.21, has seen a recent decline of 9.5%.
Despite this, the memecoin has surged over 63,000% from its mid-October low of $0.01136, especially after a high-profile incident involving former President Trump.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin and Ethereum ETFs Lead Record Inflows in Investment Landscape
XRP Breakout: Analyst Eyes $0.60 Target After Key Resistance Breach
Bitcoin millionaires double as digital asset market surges in value
Solana struggles to break key resistance levels amid market volatility
