Crypto Whale Makes Millions From TRUMP Memecoin 🐋
Recently, reports surfaced that a significant crypto whale profited millions from a memecoin inspired by Donald Trump. The whale transferred all their TRUMP tokens to the exchange BTSE, marking a substantial financial gain.
- An on-chain tracking platform, Lookonchain, revealed that the whale acquired 1.08 million TRUMP tokens between November 22 and December 4, 2023.
- The average purchase price of the tokens was $0.5, resulting in an initial investment of $540,000.
- The whale successfully made $8.85 million from their TRUMP holdings, with profits amounting to $8.3 million.
Initially, there were suspicions that the wallet belonged to a renowned crypto trader known as GCR. However, subsequent investigations confirmed that the wallet was not associated with the trader. Another wallet linked to the same trader also showed significant unrealized profits from TRUMP tokens.
Surge in PolitiFi and Trump-Inspired Tokens 🚀
Following a recent assassination attempt on former President Donald Trump, there was a notable surge in PolitiFi tokens and other Trump-inspired cryptocurrencies, reflecting market dynamics.
- After news broke of the assassination attempt on Trump during a rally in Butner, Pennsylvania, PolitiFi tokens surged by over 30%, indicating a significant market response.
- DeFi expert Jake Pahor highlighted the exceptional performance of the PolitiFi sector, surpassing other categories in the market.
- Data from DeFiLlama indicated a 36.7% increase in PolitiFi tokens over the last week, suggesting a bullish trend in the sector.
The surge in Trump-inspired memecoins began prior to the assassination attempt, triggered by Trump’s scheduled appearance as a keynote speaker at the Bitcoin 2024 Conference. This event caused a notable spike in TRUMP’s price, propelling it upwards.
Subsequently, TRUMP experienced a significant increase in value post the failed assassination attempt, surging from $6.3 to $9.51 within twelve hours, representing over a 50% rise. Despite some fluctuations, the memecoin has maintained a steady trading range.
Currently, TRUMP is being exchanged at $8.15, reflecting a 3.8% gain in the last day and notable increases over the one-week and two-week timeframes.
Hot Take: Insights on Recent Crypto Trends 📈
The recent surge in Trump-inspired tokens and PolitiFi coins underscores the impact of real-world events on the cryptocurrency market. As traders and investors navigate these market dynamics, staying informed and monitoring trends becomes crucial for making informed decisions.
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