Crypto Trader Makes Millions on Trump-Themed Memecoin

A crypto trader made a massive profit on a Donald Trump-themed memecoin that has skyrocketed in value this year.

According to Lookonchain, a wallet linked to the trader known as Gigantic Rebirth (GCR) used $540,700 in USDT to purchase 1.08 million MAGA (TRUMP) tokens at an average price of $0.50 in late 2023.

Over the weekend, this wallet transferred all its TRUMP tokens to the BTSE exchange, resulting in an $8.3 million profit.

Another wallet, tagged “GCR: Address 1,” still holds 936,279 TRUMP tokens valued at $7.23 million, showing profits of over $6.5 million.

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TRUMP, currently trading at $7.21, has seen a recent decline of 9.5%.

Despite this, the memecoin has surged over 63,000% from its mid-October low of $0.01136, especially after a high-profile incident involving former President Trump.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.