Crypto Trader Nets $28M on Broccoli Memecoins While Trump Token Rakes in Fees

• A trader made a $27.8M profit by buying and dispersing Broccoli-themed memecoins sparked by CZ’s dog’s name reveal.
• The Broccoli memecoin frenzy saw high trading volumes, but many investors faced losses due to the risky nature of memecoins.
• Trump’s $Trump token generated nearly $100M in fees, benefiting major investors while many smaller traders faced losses.

A cryptocurrency trader made $27.8 million in profit after buying multiple Broccoli-themed memecoins. These coins emerged after Binance co-founder Changpeng Zhao revealed his dog’s name, “Broccoli.” The announcement led to a surge of new tokens inspired by the Belgian Malinois.

Besides, platforms like Solana’s Pump.fun and BNB Smart Chain’s Four.Meme quickly hosted hundreds of Broccoli coins. Seizing the opportunity, a trader bought almost every available Broccoli memecoin. Then, he used a dispersal strategy to distribute them across multiple wallets. Consequently, this strategic move allowed him to maximize profits.

The Rise of Broccoli Memecoins

Memecoins have frequently created unexpected millionaires despite their lack of fundamental utility. This case was no exception. Moreover, the hype following Zhao’s revelation fueled an immediate trading frenzy.

According to Lookonchain, a crypto intelligence firm, the trader’s sniping strategy proved highly effective. Sniping involves capitalizing on short-term market trends using technical indicators. Hence, traders can identify lucrative trading opportunities within moments. This method significantly contributed to the trader’s impressive earnings.

Additionally, Broccoli-themed memecoins flooded the market, generating substantial trading volumes. As a result, many investors attempted to replicate the trader’s success. However, the high-risk nature of memecoins often leads to financial losses for many participants.

Trump Coin Generates Millions in Fees

In a similar development, entities behind former President Donald Trump’s memecoin accumulated nearly $100 million in trading fees. The $Trump token launched on Jan. 17 and surged rapidly. At its peak, it reached a market value exceeding $14.5 billion before declining by two-thirds.

Furthermore, blockchain analysis firms such as Merkle Science and Chainalysis reviewed the token’s trading activity. Their findings revealed that at least fifty major investors made over $10 million in profits each. Meanwhile, nearly 200,000 smaller wallets suffered losses.

One entity behind the $Trump coin is CIC Digital, a company owned by Trump. The firm receives trading revenue from the token’s activity on Meteora, the exchange where $Trump was first sold. However, it remains unclear how much of Trump’s revenue has been received.