A crypto trader capitalized on Donald Trump’s legal troubles, profiting from a surge in newly launched meme coins related to the ex-US president.
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Following this revelation, numerous meme coins inspired by Donald Trump flooded the market, with some experiencing rapid and substantial growth, generating significant profits for investors.
Trader Profits $160,000 from Trump’s Conviction
A crypto trader recently capitalized on the launch of new meme coins inspired by Donald Trump. According to Loockonchain analytics, the trader initially invested 85 SOL tokens, equivalent to $14.6K, in FREE TRUMP tokens. Within five hours, these tokens surged in value to 814 SOL, totaling $140,000, resulting in a staggering profit of $125,000.
Loockonchain post. Source: X
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Continuing their successful streak, the trader then invested 72 SOL tokens, valued at $12.3K, in NEVER SURRENDER (TRUMP). After the prices soared, the trader sold them for 315 SOL, worth $54K, earning a profit of 243 SOL or $42,000.
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In total, the trader spent $26.9K and reaped $167,000 in profits within just a few hours due to well-timed investments.
This scenario is not unique, as the crypto industry attracts numerous opportunistic traders who swiftly capitalize on market trends, generating significant returns. This trend has normalized substantial profits for investors in Solana-based meme coins, as Solana continues to be a preferred network for launching such tokens. The continuous influx of new meme coins on the Solana network fuels excitement and speculation among investors.
Trump-Inspired Meme Coins: Market Update
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FREE TRUMP (FREE): At the time of writing, FREE TRUMP (FREE) is trading at $0.04018, reflecting a 12% increase from yesterday’s levels. The meme coin boasts a market capitalization of $4 million and a robust trading volume of $3.35 million. Despite a decline from its peak of $0.0755, FREE’s price is currently on an upward trajectory.
FREE TRUMP gained significant attention when its price surged by 633% at the time of Donald Trump’s verdict, resulting in substantial profits for crypto traders.
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NEVER SURRENDER (TRUMP): Meanwhile, NEVER SURRENDER (TRUMP) continues its upward momentum, witnessing a remarkable surge of 121.78%. This surge has propelled its price to $0.00001703. In a short span, the meme coin has garnered significant popularity, achieving a market capitalization of $6.4 million and a trading volume of $9.03 million.
Both FREE TRUMP and NEVER SURRENDER (TRUMP) exemplify the fervent interest and speculative activity surrounding Trump-themed meme coins in the cryptocurrency market.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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