As a seasoned financial analyst with over a decade of experience in the crypto market, I’ve seen my fair share of unexpected price surges and whale profits. However, the recent events surrounding Trump-inspired tokens have left me intrigued.
As a crypto investor, I’ve witnessed an extraordinary surge in the value of Trump-inspired tokens after the assassination attempt on former President Donald Trump. This unexpected event led to PolitiFi tokens ending the week as top performers within the industry, outshining many other categories. The remarkable success of these MAGA (TRUMP) memecoins left some prominent crypto investors with substantial profits totaling millions.
Crypto Whale Profits From TRUMP Memecoin
Last Sunday, according to the on-chain monitoring tool Lookonchain, a wealthy cryptocurrency investor cashed out vast amounts of the Trump-themed memecoin, TRUMP, from their wallet to the exchange BTSE, reaping millions in the process.
According to the report, a whale purchased 1.08 million units of TRUMP token between November 22 and December 4, 2023, at an average price of $0.5 per token. This transaction amounted to a total expenditure of $540,000. Subsequently, the value of these tokens surged, resulting in a profit of approximately $8.3 million. The whale’s overall gain from this investment was around $8.85 million.
According to Lookonchain’s investigation, there were initial suspicions that the cryptocurrency wallet belonged to well-known trader GCR. However, further confirmation revealed that the wallet in question did not actually belong to him.
According to Lookonchain’s latest report, another suspect address is believed to hold a substantial amount of the Trump-inspired memecoin. The second account, thought to be connected to the crypto trader, boasts approximately $6.5 million in potential profits from TRUMP yet to be realized.
A tagged whale wallet identified as “GCR: Address 1” has transacted approximately $700,000 to acquire around 936,279 TRUMP tokens. The purchase occurred at an average token price of roughly $0.75 between December 8, 2023, and January 18, 2024.
During the generation of the report, the value of the whale’s assets approximated $7.23 million. However, there is no definitive proof that this particular address belongs to the well-known cryptocurrency trader.
PolitiFi And Trump-Inspired Tokens Soar
During the past weekend, it was reported that Former US President Donald Trump underwent an assassination attempt. This occurred at a campaign rally in Butner, Pennsylvania, where Trump suffered an earshot wound.
As a seasoned analyst, I’ve observed an impressive surge in PolitiFi token prices following recent developments in the news. According to Jake Pahor, a renowned DeFi creator and analyst, the PolitiFi sector demonstrated exceptional growth compared to other categories during the past weekend.
As a DeFi analyst, I examined the latest data from DeFiLlama, which revealed a significant increase in PolitiFi tokens. Specifically, there was a 36.7% growth observed within the past week. Notably, all categories outperformed Bitcoin during this timeframe, implying a potential transition towards a more aggressive investment climate.
Prior to the unsuccessful attempt to assassinate Trump, the value of memcoins inspired by him experienced a price increase. This surge occurred once it was announced that Trump would be delivering the keynote address at the Bitcoin 2024 Conference on July 27.
The price of TRUMP rose from $5.74 to $6.54 following the latest news, which equates to a 15% daily increase and a 39.5% surge in weekly terms. Since then, this popular memecoin associated with Trump has experienced a significant jump of 35%.
After the assassination attempt, the token experienced a significant surge in value, jumping from around $6.3 to reach $9.51 within a twelve-hour period, marking an over 50% increase. On Sunday, the memecoin maintained a relatively stable price between $7.3 and $7.9, starting the week with a trading value of $7.47.
At present, I observe TRUMP being traded at a price of $8.15, marking a 3.8% growth in value over the past day. This daily improvement also signifies a substantial increase of 35.3% within the last week and a noteworthy rise of 22.2% over the past two weeks.
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2024-07-16 11:11