Memecoins
Traders Take Advantage of Trump-Themed MEMEcoins Amid Legal News
Following the recent announcement of Donald Trump’s guilt, the cryptocurrency market saw an increase in Trump-themed coins.
One savvy trader capitalized on this trend, making significant profits in just a few hours by trading two of these new tokens: FREE TRUMP ($FREE) and NEVER SURRENDER ($TRUMP).
Like the news of #DonaldTrump being found guilty, many Trump-themed themes #MEMECoins have been created.
A smart trader made ~972 $ SOL($167,000) in 5 hours by trading Trump-themed tokens FREE TRUMP ( $FREE) and NEVER SURRENDER ( $ASSET).
He spent 85 $ SOL($14.6k) to buy $FREE and sold for… pic.twitter.com/G1uEO49Zw6
– Lookonchain (@lookonchain) May 31, 2024
The trader invested 85 SOL ($14.6k) to buy for FREE and then sold it for 814 SOL ($140k), securing a profit of 729 SOL ($125k). Similarly, the trader spent 72 SOL ($12.3k) to buy $TRUMP and sold it for 315 SOL ($54k), making an additional profit of 243 SOL ($42k).
In total, this trader earned approximately 972 SOL ($167,000) in a five-hour window by strategically trading these Trump-themed tokens.
A smart whale bought $498,000 worth of #MAGA $ASSET to the dive after #DonaldTrump was found guilty.
And now makes $102,000 (+20.4%) in unrealized profit!
In addition $ASSETthe whale also has $2.32 million in (un)realized profits from $FTM And $PEPE.
Follow @spotonchain and discover the… pic.twitter.com/SDNaoJk1Og
– Spot on the channel (@spotonchain) May 31, 2024
Smart Whale Makes $102,000 Profit After Buying Diminishing $TRUMP Token
Besides individual traders, larger investors have also benefited from market movements. A smart whale purchased $498,000 worth of MAGA$TRUMP tokens during a price crash that followed Trump’s guilty verdict. This investment resulted in an unrealized profit of $102,000 (+20.4%).
Beyond $TRUMP, this whale has also accrued significant profits from other tokens, including $FTM and $PEPE, with total (un)realized gains of $2.32 million.
These events highlight the fast-paced and sometimes unpredictable nature of the cryptocurrency market, particularly in response to high-profile news stories.
Creating and trading memes related to popular personalities or events can provide substantial profits, but also carry high risks. Investors and traders must stay informed and act quickly to capitalize on such opportunities while managing the inherent risks associated with these volatile assets.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
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Image source: kebox/123RF // Image effects by Colorcinch