Crypto Whale Profits From TRUMP Memecoin
On Sunday, on-chain tracking platform Lookonchain reported that a crypto whale had made millions from a Trump-inspired memecoin. An address deposited all their TRUMP holdings to the crypto exchange BTSE. Per the , the whale bought 1.08 million TRUMP between November 22 and December 4, 2023. The address acquired the tokens at an average price of $0.5, spending $540,000 for the memecoin. Seemingly, the whale made $8.85 million from the tokens, $8.3 million of which were profits.Lookonchain also reported another address holding a significant amount of the Trump-inspired memecoin. The second address, also suspected to be linked to the crypto trader, has $6.5 million in unrealized profits from TRUMP.
The whale wallet “GCR: Address 1” spent over $700,000 to buy 936,279 TRUMP. The address bought the tokens at an average of $0.75 between December 8, 2023, and January 18, 2024.PolitiFi And Trump-Inspired Tokens Soar
Over the weekend, former US President Donald Trump survived an assassination attempt. The Republican Presidential Candidate got shot in the ear during a campaign rally in Butner, Pennsylvania. Following the news, PolitiFi tokens soared over 30%. DeFi creator and analyst Jake Pahor shared that the PolitiFi sector outperformed most categories over the weekend.Before the failed Trump assassination attempt, Trump-inspired memecoins saw a pump. The tokens surged after the former US President was announced as a keynote speaker at the Bitcoin 2024 Conference on July 27.
TRUMP’s price went from $5.74 to $6.54 after the news. This performance represented a 15% and 39.5% surge in the daily and weekly timeframes. Since then, the biggest Trump-themed memecoin has seen a 35% rise, fueled by the most recent incident.
Following the assassination attempt, the token went from the $6.3 price range to the $9.51 mark, increasing by over 50% in twelve hours. On Sunday, the memecoin hovered between the $7.3-$7.9 price range, starting the week trading at $7.47. As of this writing, TRUMP exchanges hands at $8.15, a 3.8% increase in the last day. This performance also represents a 35.3% and 22.2% rise in the one-week and two-week timeframes.