Crypto Trader Nets Millions Trading Memecoins Following U.S. Election

In the wake of recent U.S. election results, a high-profile crypto trader has drawn significant attention with impressive gains in the memecoin market.

On-chain analysis revealed that the trader, known as theunipcs.eth, scored around $4 million in profit from trading the Department of Government Efficiency (DOGE) token. At the same time, the trader achieved substantial returns from another politically themed token, MAGA, sparking conversations on emerging strategies within the volatile meme coin sector.

On November 8, blockchain data provider Lookonchain shared that this trader made a strategic move by purchasing 33.35 million DOGE tokens with 235 ETH, approximately $584,000, when the token’s market cap was $2.7 million. This positioning led to an unrealized gain of $4.12 million, showcasing the potential of well-timed entries in meme coins.

Similarly, theunipcs.eth bought MAGA tokens when their market cap reached $3 million, investing 18.45 ETH (about $57,000) to amass 6.27 billion tokens. This trade yielded an unrealized profit of $395,000, briefly peaking at a paper gain of over $4 million.

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DOGE has surged 146% in the last day, now priced at $0.1971. Over the past week, the token has seen a 22% increase, with monthly gains nearing 78%. In contrast, MAGA has dropped by 9% over the past day, now priced at $0.00008149.