A smart trader earned 32,000x returns through well-timed TRUMP token investments
- Linda HamiltonOriginal
- 2024-10-18 15:46:15258browse
Sold 6,000 TRUMP tokens for 11.4 ETH, holding remaining tokens worth millions. Buying early and selling high unlocked massive profit for the investor.
A crypto trader recently turned a small $96 investment into over $3 million in profits, thanks to well-timed trades involving TRUMP tokens, a meme coin inspired by the former U.S. president.
According to a post shared by blockchain analysis platform Lookonchain, the lucky investor made a jaw-dropping 32,000x return on his investment.
The trader initially spent just 0.052 ETH (around $96 at the time) to buy 608,650 TRUMP tokens on August 12, 2023. As the TRUMP token was newly listed on several cryptocurrency exchanges and began trading at around $0.0193, its rise coincided with increasing interest in the U.S. election and Donald Trump's involvement in the memecoin space.
Now trading at $5.3, the investor has started selling portions of his holdings as the price of the TRUMP coin is surging. 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 valued at over $3 million.
This significant return highlights the impact of meme coins in the crypto market and how timing and market interest can amplify a small investment into a massive profit.
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