24/7 Cryptocurrency News

MAGA Whale Earns $8M Profit Following Donald Trump Assassination Attempt

Donald Trump themed meme coin MAGA rallied to $10 on Sunday giving a huge profit opportunity to a TRUMP whale minting $8.3M profits.
Published by
MAGA Whale Earns $8M Profit Following Donald Trump Assassination Attempt

Highlights

  • The wallet, suspected to belong to GCR (@GiganticRebirth), deposited 1.08 million TRUMP tokens to exchange.
  • Another address, tagged "GCR: Address 1," still holds 936,279 TRUMP tokens worth $7.23 million.
  • Poltifi Tokens have gained significantly following the foiled attack on Donald Trump.

As per the latest on-chain data, a MAGA whale has recently minted a staggering $8.3 million in profits following the TRUMP price rally over the last weekend. Following the failed attack on former US President Donald Trump during the last weekend, meme coins have been rallying even harder.

Advertisement

MAGA Whale Books Big Profits

On-chain data provider Lookonchain reported that a TRUMP wallet, suspected to belong to GCR (@GiganticRebirth), has deposited a total of 1.08 million MAGA tokens worth a staggering $8.85 million to the BTSE exchange in the past few hours. The total realized profits were reportedly around $8.3 million.

This wallet initially spent 540,700 USDT to purchase 1.08 million TRUMP tokens at an average price of $0.50 between November 22 and December 4, 2023.

However, it turns out that another address tagged “GCR: Address 1” is still holding 936,279 TRUMP coins worth $7.23 million and has not sold yet. This address is currently sitting on a potential profit of more than $6.5 million.

The attack on Donald Trump last Saturday was ultimately foiled which significantly boosted the re-election chances of the former US president. With Trump projecting himself as the pro-crypto candidate Bitcoin and the broader crypto market registered a strong rally.

During the last weekend, the MAGA (TRUMP) price shot up by a staggering 60% shooting up all the way above $10. However, following the profit booking by the whale, the meme coin has corrected nearly 25% from the top. On the weekly chart, MAGA still trades at a premium of 42% with a market cap of $334 million.

Interestingly, despite this attack, Donald Trump still remains committed to attending the Bitcoin 2024 Conference scheduled in the last week of July.

Also Read: Elon Musk and Justin Sun Endorses Donald Trump Post-Attack

Advertisement

Meme Coins Rally Harder

Along with the MAGA coin, other meme coins have also rallied strongly over the past weekend. All of the top ten meme coins are up by 4-10% in the last 24 hours.

Amidst the political turmoil, Politifi Tokens present a new buying opportunity. Trump’s upcoming speech at the Bitcoin 2024 conference is now anticipated to have an even greater impact on the market.

Also Read: Trump Vs Biden Election Outcome Unlikely To Deter Bipartisan Support For Crypto

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data

Traders are beginning to price in the possibility of a 50 basis points (bps) Fed…

September 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor Spotlights Strategy’s Performance Following S&P 500 Snub

Michael Saylor highlighted Strategy’s outperformance after the company was excluded from the S&P 500. The…

September 6, 2025
  • 24/7 Cryptocurrency News

Donald Trump Shortlists Hassett, Warsh, and Waller for Fed Chair

U.S. President Donald Trump has revealed his shortlist of candidates who could potentially replace Fed…

September 6, 2025
  • 24/7 Cryptocurrency News

Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes

Ethena Labs has secured fresh funding from ArkStream Capital as it expands its ecosystem in…

September 6, 2025
  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun responded to World Liberty Financial freezing his wallet by promising to purchase $20…

September 6, 2025