How One Trader Turned $10,000 Into $1M Through a Meme Coin
If you’ve invested in Troll (TROLL) meme coin, you should take a cue from another crypto trader who turned his $10,000 investment into over $1 million. This happened after Elon Musk updated his Twitter biography to state he was the “(CTO) Chief Troll Officer”.
Identifying an opportunity after the change, the trader bought 19.37 TROLL after purchasing 4.313 ETH worth of $10,113. By cashing out during a 150,000% pump in just three days occasioned by the Musk effect, the trader sold 9 trillion TROLL worth $1.34 million.
Elon Musk Effect on Meme Coins Continues
As you registered a share of $836K, the TROLL token previously stagnating saw its value surge after Musk’s involvement. The exponential rise appears to parallel that in meme coins whose value has gained ground under Musk like Dogecoin, Shiba Inu, Floki, Baby Dogecoin, and MiLady.
Another coin GROK also felt the ripple effect of Musk’s tweet revealing the launch of the Grok AI chat bot. Although the coin had a 33,000% surge driven by the excitement, it ended up being dismissed as a scam.
Musk was also linked to meme coin manipulation according to Dogecoin investors. His defense hinges on the fact that “tweeting words of support” and “funny pictures” do not amount to market manipulation.
Hot Take: What You Can Learn From a $10,000 to $1M Crypto Trade
If you’re investing in crypto, you need to pay attention to the effect influencers and industry leaders have on coin values. As Dogecoin investors sought to prove that Musk manipulated their coin, the fact remains that a coin value can grow incredibly fast when in the control of influencers. Always review the effect a tweet, a news statement, or a social media post from a recognized person within the crypto space may have on an asset. The TROLL trader’s success story is a case in point of what can happen when influencers get on board with a cryptocurrency.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.