A meme coin trader turned $96 into $3 million in just over a year trading Donald Trump-themed political token MAGA (TRUMP).
A Remarkable 32,000X Gain From A 0.052 ETH Bet On MAGA
On-chain tracking platform Lookonchain shared the details of the impressive trade in an Oct. 18 post on X. According to the tweet, the trader spent only 0.052 Ethereum (ETH), valued at around $96, to purchase 608,650 TRUMP on Aug. 12, 2023.
The trader appears to have diamond hands, and has only sold 6K TRUMP tokens so far for 11.4 ETH, worth around $30K. This means that the trader still has 594,564 TRUMP tokens.
At the time of Lookonchain’s post, the holdings were valued at approximately $3.06 million. However, the dollar value of the trader’s TRUMP tokens has dropped to just below $3 million following a slight retracement since the tweet was made.
MAGA Price Surges 17,029%
CoinMarketCap data shows the MAGA price surged over 17,029% in the last year. Its positive momentum continued through the course of the last trading day, with the meme coin registering a 5% increase to trade at $4.20 as of 3:30 a.m. EST.
Trump-Themed Tokens Buck PolitiFi Market Trend
In the last 24 hours, the market capitalization for political meme coins dropped a fraction, while tokens linked to former US president Donald Trump outperformed the sector.
Pepe (TRUMP) posted the biggest gain with a 148% surge, while Pepe Trump (PTRUMP), MAGA PEPE (ETH) and Elon Trump (ET) all recorded strong gains.
With the US presidential election less than 3 weeks away and the hype around Trump tokens, investors might want to check out a new political meme coin by the name of FreeDum Fighters (DUM) .
The token has raised over $208K through its ongoing presale in just a few days since it launched. It offers buyers the chance to stake their tokens by ”voting” for either Trump or Democratic rival Kamala Harris.
Those who vote/stake for Trump can earn an annual staking yield of about 496%, while those voting/staking for Harris can earn a massive 1,866% annual return. The staking yields show that token holders favor Trump by a wide margin.
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