Here’s How This Crypto Trader Made $160,000 With Trump’s Conviction
Opportunists are the people who know how to make the best out of the situation, and this is what this crypto trader did with Trump’s conviction. Earlier, the ex-US president, Donald Trump, was convicted of 34 felonies, including falsifying records to get out of sex scandals he was involved in with the adult industry star Stormy Daniels. Trump has falsified business records, including the reimbursement of his lawyer, Michael Cohen, for hush money payments for the 2016 campaign for the White House.
With the revelation, many Trump-based meme coins entered the market, and a few boomed instantly, making millions for investors.
Crypto Traders Made $160,000 With Trump-Based Meme Coins
As per the Loockonchain analytics, a crypto trader invested 85 SOL ($14.6K) to buy the newly launched FREE TRUMP tokens, which turned into 814 SOL worth $140,000. In just five hours, the trader made a profit of $125,000 on this investment. Again, he used 72 SOL tokens worth $12.3K to buy NEVER SURRENDER (TRUMP). He sold them when the prices surged, making 243SOL or $42,000 in profits after selling them for 315 SOL, worth $54K.
Overall, the trader spent $26.9K and made $167,000 in profits in a few hours because of his perfectly timed investment.
As the news of #DonaldTrump being found guilty, many Trump-themed #MEMEcoins were created.
A smart trader has made ~ 972 $SOL($167K) in 5 hours by trading Trump-themed tokens FREE TRUMP( $FREE) and NEVER SURRENDER( $TRUMP).
He spent 85 $SOL($14.6K) to buy $FREE and sold for… pic.twitter.com/G1uEO49Zw6
— Lookonchain (@lookonchain) May 31, 2024
This wasn’t the only crypto trader, as the industry is filled with such opportunists, which astonishes the commoners and builds hype around crypto investment. What’s interesting to note is that all such huge profits have become normal for the Solana meme coin investors. It is because Solana has become one of the most preferred networks for meme coins. More and more such meme coins are getting launched every other day.
How Are These Trump-Based Meme Coins Performing Now?
At the time of writing, FREE TRUMP (FREE) is trading at $0.04018 and has surged 12% from yesterday. It has a market capitalization of $4M and a trading volume of $3.35M. Though the meme coin has declined from its peak of $0.0755, its price is surging again for now. Moreover, at the time of the verdict, the FREE price increased by 633%, making millions for every crypto trader.
Talking of NEVER SURRENDER (TRUMP), the meme coin is still growing. It has witnessed a surge of 121.78%, bringing the value to $0.00001703. In such a short time, it has gained huge popularity, creating a market cap of $6.4M and TV of $9.03M.
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