Following the recent news of Donald Trump being found guilty, the cryptocurrency market saw a surge in Trump-themed meme coins.
A 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).
As the news of #DonaldTrump being found guilty, many Trump-themed #MEMEcoins were created.
A smart trader has made ~ 972 $SOL($167K) in 5 hours by trading Trump-themed tokens FREE TRUMP( $FREE) and NEVER SURRENDER( $TRUMP).
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 purchase $FREE and subsequently 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 ($167K) within a five-hour window by strategically trading these Trump-themed tokens.
A smart whale bought $498K worth of #MAGA $TRUMP at the dip after #DonaldTrump was found guilty.
And now makes $102K (+20.4%) in unrealized profit!
Besides $TRUMP, the whale also has $2.32M in (un)realized profits from $FTM and $PEPE.
Follow @spotonchain and check out the… pic.twitter.com/SDNaoJk1Og
— Spot On Chain (@spotonchain) May 31, 2024
A Smart Whale Makes $102K Profit After Buying The Dip From $TRUMP Token
In addition to individual traders, larger investors also took advantage of the market movements. A smart whale purchased $498K worth of MAGA $TRUMP tokens during a price dip that followed Trump’s guilty verdict. This investment has resulted in an unrealized profit of $102K (+20.4%).
Beyond $TRUMP, this whale has also amassed significant profits from other tokens, including $FTM and $PEPE, with total (un)realized gains of $2.32 million.
These events highlight the rapid and sometimes unpredictable nature of the cryptocurrency market, especially in response to high-profile news.
The creation and trading of meme coins tied to popular figures or events can offer substantial profits, but they also come with high risks. Investors and traders need to 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 buying any cryptocurrency or investing in any services.
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