NewsletterHere’s How This Crypto Trader Made $3 Million With Just $96
Highlights
- Crypto trader turned $3 Million from just $96 as TRUMP token witnessed a sharp recovery since August 2023
- The U.S. presidential race has a major impact on PolitiFi meme assets, allowing investors to grab high-momentum traders.
- The TRUMP price sustainability above $4 should renew the bullish momentum for a $5 breakout.
Since last weekend, the crypto market witnessed a renewed recovery momentum as pioneer digital asset Bitcoin rebounded from $60,000. The memecoin sectors, known for their volatile nature and speculative trading, often provide a dynamic move amid new market changes. A crypto trader has recently leveraged this trend and made $3 Million from just $96 by trading TRUMP tokens.
Crypto Trader Turns $96 to $3 Million
On August 12th, a crypto trader made an initial purchase of 608,650 TRUMP tokens on Uniswap, spending only 0.052 ETH, which was worth around $96 at the time. With the escalating competition between former president Donald Trump and U.S. Vice President Kamala Haris, the PolitiFi tokens are gaining significant traction among crypto investors.
The 2024 U.S. presidential race and its surrounding developments have had a major impact on top meme coins, allowing savvy crypto trade to capitalize on a high momentum rally.
According to Etherscan, the aforementioned crypto trader has started selling portions of his TRUMP holding, booking profit after a notable recovery. Yesterday, the trader sold 6k Trump tokens for 11.4 ETH (worth approximately $30,000)
Despite this sale, the crypto trader still holds a significant amount of TRUMP tokens, with 594,564 remaining in its wallet, valued at an impressive $3.06 million.
By the press time, the TRUMP token trades at $4.2, with an intraday loss of 18.8%. Consecutively, the market cap surged to $180.1.
As Doland Trump’s winning bet surged to 60.1% in Polymarket, a prediction market platform, the PolitiFitokens like MAGA (TRUMP), MAGA HAT (MAGA), and Doland Tremp (TREMP) should witness aggressive bullish momentum.
Ethereum and Solana: The Growing Platforms for Memecoins
Beyond TRUMP’s success, the other meme cryptocurrencies on the Ethereum and Solana blockchain are reclaiming investors’ attention. These joke coins build on a robust infrastructure of Ethereum and the highly scalable Solana blockchain thriving due to their community-driven hype.
Ethereum memes such as Shiba Inu (SHIB) and Pepe coin (PEPE) and Solana-based coins like Dogiwfhat (WIF) and Gluteus Maximus (GOAT) are positioned for prolonged recovery amid increasing utility and whale interest.
Conclusion:
The ability to turn $96 into $3 million is nothing short of incredible, showing how meme cryptocurrency could turn a crypto trader from zero to hero. However, investors should remain cautious when trading these assets as their volatility could shake trade sentiment in seconds.
Frequently Asked Questions (FAQs)
1. How did the crypto trader turn $96 into $3 million?
2. What impact has the 2024 U.S. presidential race had on meme coins?
3. Which platforms are popular for meme coins?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.
Premium Partners
Related Articles
- Fed’s Williams Says No Urgency to Cut Rates Further as Crypto Traders Bet Against January Cut
- Trump to Interview BlackRock’s Rick Rieder as Fed Chair Shortlist Narrows to Four
- Breaking: VanEck Discloses Fees and Staking Details for its Avalanche ETF
- Crypto Market Braces for Volatility as BTC, ETH Options Expiry Collides $7.1 Trillion ‘Triple Witching’
- Terraform Labs Lawsuit: Jump Trading Faces $4B Case over Market Manipulation
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
- Will Bitcoin Price Crash to $74K as Japan Eyes Rate Hike on December 19?
