A savvy crypto trader recently turned a small $96 investment into over $3 million in profits. According to a post shared by blockchain analysis platform Lookonchain, this lucky investor made a jaw-dropping 32,000x return on his investment by trading TRUMP tokens, a meme coin inspired by the former U.S. president.
From $96 to Millions $3 Million
According to the Lookonchain report, the trader initially spent just 0.052 ETH (worth $96) to buy 608,650 TRUMP tokens on August 12, 2023. At the time, the TRUMP token was newly listed on several exchanges, trading at $0.0193. The token’s rise coincided with increasing interest in the U.S. election and Donald Trump’s involvement in the memecoin space, fueling investor excitement.
Fast-forward to today, and he has started selling portions of his holdings when the price of the TRUMP coin is trading around $5.3. Within the last 6 hours, he sold around 6,000 TRUMP tokens, earning 11.4 ETH, or roughly $30,000.
What’s even more remarkable is that he still holds a large portion of his TRUMP tokens—594,564 to be exact—which are now worth over $3 million.
This significant return reflects the impact of meme coins in the crypto market, as well as how timing and market interest can turn a small investment into a massive profit.
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TRUMP Token’s Rise in Value
TRUMP tokens are part of a growing trend of meme coins in the cryptocurrency market. While they may not be tied to strong fundamentals or specific use cases, these tokens often gain popularity based on social media hype, internet culture, and speculative trading.
The investor’s decision to buy TRUMP at a low price and sell as the market surged was perfectly timed, showing how powerful timing can be in crypto investments.
Source: https://coinpedia.org/news/savvy-trader-turns-96-into-3-million-by-investing-in-trump-tokens/