A savvy investor became a millionaire by turning a $96 investment in TRUMP tokens into over $3 million.
A crypto investor turned a small investment of $96 into over $3 million in profit. Lookonchain found out that the investor made this high profit by trading the TRUMP TRUMP $9.29 24h volatility: 4.2% Market cap: $1.86 B Vol. 24h: $541.76 M token, which gave back about 32,000 times what they originally put in.
The on-chain platform revealed that the investor spent only 0.052 ETH ETH $1 786 24h volatility: 0.5% Market cap: $215.86 B Vol. 24h: $17.05 B , worth $96 at the time, to buy 608,650 TRUMP tokens on August 12, 2023. This token was newly listed on multiple exchanges then. In the following months, the value of these tokens went way up, leading to huge profits for the investor.
The trader is now selling his holdings for maximum gain. He has sold 6,000 TRUMP tokens for 11.4 ETH, which is currently around $30,000. Despite the sell-off, the trader is still holding 594,564 $TRUMP, which is now around $3.06 million.
What can you do with $96?
This guy made over $3M with only $96, a 32,000x return!
He spent only 0.052 $ETH($96) to buy 608,650 $TRUMP on Aug 12, 2023, and started selling $TRUMP for a profit 6 hours ago.
So far, he has sold 6K $TRUMP for 11.4 $ETH($30K), leaving 594,564… pic.twitter.com/OacHY6a4RW
— Lookonchain (@lookonchain) October 18, 2024
The increasing interest in the US election and Donald Trump‘s involvement might be some of the reasons why the TRUMP token has gone up.
The price of TRUMP surged by more than 15% in the last seven days, and it has continued to maintain that bullish momentum as it has spiked by more than 5% in the last 24 hours. As of the time of writing, the token is selling at $5.43.
Meme Coin Frenzy: How Hype and Timing Boosted Profits
This feat achieved by the trader shows the potential lucrative aspect of cryptocurrency. In a similar scenario, though at a larger scale, an investor profited on two different tokens, GOAT and BILLY. The investor initially spent 603 $SOL, equivalent to $86,000, to buy 10.7 million GOAT, which peaked in value at $3.75 million. The smart investor sold 0.7 million of those tokens for $222,000 while retaining 10 million $GOAT, now worth $2.74 million.
Additionally, four months ago, the same investor purchased 7.3 million BILLY tokens for $182,000 and recently sold the entire holding for $593,000, netting a $411,000 profit, representing a 226% gain. Overall, the investor’s ability to buy at the right time and capitalize on price increases resulted in a 3360% profit on GOAT and a 226% profit on BILLY.
The profits these investors gained show how much an investor can make in the crypto sector. While meme coins generally do not have any specific use cases or value, they often react to social media hype and buzz, which could easily trigger their price.
The strategy used by these investors to buy the token at a low price and sell at a higher price was accurately timed. Just as it is commonly said in crypto, timing is everything.
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