TRUMP Meme Coin’s remarkable rise is highlighted by a trader’s $70 million profit in just 4 hours, showing both its rapid growth and the risks involved.
The cryptocurrency market is no stranger to shocking headlines, but the meteoric rise of the TRUMP Meme Coin has taken the crypto world by storm. One trader turned $1.1 million into $70 million in just four hours. Here’s how it happened, what it means for the market, and what investors should know about this token that has attracted a lot of attention.
The Rise of TRUMP Meme Coin
The TRUMP Meme Coin became much more valuable on January 18, 2024, after Donald Trump was named President-elect. This connection to politics made the cryptocurrency special, attracting many investors.
According to CoinMarketCap, the coin’s value reached almost $6 billion in just a few hours. Its price went up to a record $35 before going down to $26.72.
Right now, only 200 million out of 1 billion total tokens are available. But there are plans to release 800 million more tokens over the next three years. This has caused worries about the market’s stability and possible price drops.
A Trader’s $70M Triumph
An incredible story about the TRUMP Meme Coin involves a trader who made $70 million in just four hours. The trader started by buying 1.35 million TRUMP tokens for $1.1 million in USDC. When the coin’s price went up during the hype, they sold the 1.35 million tokens for 3.65 million USDC, making a big profit.
The biggest gain came from keeping 4.62 million tokens. Their value shot up to $67.5 million, making a huge return. These fast profits show how risky meme coins are and how cryptocurrency trading can be high-risk but also give big rewards.
Other High-Profile Trades
The success of the TRUMP Meme Coin wasn’t limited to one trader. Multiple high-profile investors made significant gains:
A Crypto Whale: This investor purchased 860,895 TRUMP tokens for $12 million at an average price of $13.94. They later sold their holdings at an average price of $27.67, making an $11.8 million profit.
LeBron wallet: Within the first five minutes of the coin’s launch, the “LeBron” wallet exchanged $1 million USDC for 4.52 million TRUMP tokens. The investment grew to over $2 million as prices soared.
0xsun pseudonymous trader: Another trader, known as 0xsun, invested $653,000 to buy 1 million TRUMP tokens using 3,000 Solana (SOL). They sold part of their holdings for $812,000 and made more than $3.7 million in profit.
These trades show how quickly things can change and how big the chances of making money are in the unstable cryptocurrency market, especially with meme coins like TRUMP Meme Coin.
Market Manipulation Concerns
Many traders are happy with their success, but there are worries about market manipulation. Reports say Trump’s team sold $500 million worth of tokens but still controls 85% of all the tokens. This has raised concerns about controlling the price and whether it’s fair for one group to have so much power over the market.
Plans to release 800 million more tokens over three years make these worries even bigger. Many investors fear that adding so many new tokens could lower the price and harm the coin’s future.
The TRUMP Meme Coin’s Branding and Hype
The TRUMP Meme Coin has benefited from its branding, which ties it closely to Donald Trump and his reputation for triumph and recovery. On his social media pages, Trump promoted the coin, calling it “My NEW Official Trump Meme” and a celebration of “everything we stand for: WINNING!”
However, the coin’s official website describes it as a symbolic digital asset with no inherent utility, meaning, or use as a medium of exchange. Even though the TRUMP Meme Coin has no real use, investors are still buying it because of its political and cultural importance, which has led to a lot of speculation.
Risks and Future Prospects
Even though some traders have made a lot of money, the TRUMP Meme Coin is still a risky investment. It has no real use, is controlled by a few people, and plans to release more tokens, which could cause problems for people who hold it long-term. Additionally, the coin’s close association with a political figure has sparked debates about its authenticity and ethical implications.
Market experts warn that while meme coins like TRUMP Meme Coin can make a lot of money quickly, they are very risky and can change in value very fast. Investors should be careful and do detailed research before getting involved in the market.
Conclusion:
The story of how one trader made $70 million in just four hours with TRUMP Meme Coin epitomizes the high-stakes world of cryptocurrency trading. While the potential for massive profits is undeniable, the risks and controversies surrounding the coin’s supply and control should not be overlooked.
As the TRUMP Meme Coin keeps getting attention, it shows how hype, branding, and guessing can affect the cryptocurrency world. Investors should be careful, knowing that while some may make a lot of money, others could lose a lot in the risky world of meme coins.
Also Read: Trump’s New Meme Coin Explodes to $9 Billion Market Cap: A New Era for Cryptocurrency?
