Elon Musk’s Pro-Trump Speech Made $113K For Crypto Investor In 17 Hrs: Here’s How
After the assassination attempt on Donald Trump in Butler, Pennsylvania, the ex-president again returned to the same locality, but with a new add-on, which was Elon Musk speech at the Saturday rally. Though Musk has been endorsing Trump for a long, this was the first official appearance of these together, showing a double powerful duo. During this, the Trump-supporters felt another level of joy, whose impact is also visible in the crypto industry as one crypto investor made $113 in just 17 hrs.
Elon Musk Speech Made $113K For Crypto Investor
The second Butler Pennsylvania rally collected thousands of Trump followers, where the special highlight was Elon Musk wearing a Black Cap with MAGA written in bold. However, that was not all, as he also expressed that, “I’m not just MAGA. I’m dark MAGA,” which boosted not only Trump’s followers but also the Trump-themed meme coins, making heavy profits for its holders. Not only that, this Dark MAGA boosted Donald Trump’s win odds.
In one X post, Lookonchain also revealed that one crypto investor made $113K within seventeen hours after the Elon Musk speech. The investors identified the highly profiting opportunity, where he bought billions of Trump-themed meme coins after investing 360K $USDC. He bought 2.449B $MAGA ($300K) and 18,364 $TRUMP ($60K) during the Elon Musk speech. Interestingly, both these tokens grew exponentially in just a few hours, generating a profit of $113K for the holder.
This trader is up $113K (+31.5%) in just 17 hours by betting on #memecoins $TRUMP and $MAGA after @elonmusk‘s pro-Trump speech.
As soon as Elon Musk’s live speech began yesterday, he spent 360K $USDC to snag 2.449B $MAGA ($300K) and 18,364 $TRUMP ($60K).
Now, these holdings are… pic.twitter.com/t23m12dgb2
— Spot On Chain (@spotonchain) October 7, 2024
As crypto trading is all about the right time investment, this investor has succeeded in playing the bets at the right time, bagging heavy gains. At the same time, another crypto trader doubled the investment from $4.13M to $8.49M in 15 days in Popcat, becoming another prime example of right-time investments.
How is TRUMP & MAGA Memecoin Performing Now?
During the Elon Musk speech, Musk asked for active participation of voters in the upcoming US Presidential election. At one point, he declared, “If Trump did not win, this will be the last election. That’s my prediction.”
This boosted all the Trump-themed meme coins in the market, just like it did when Donald Trump joined the Bitcoin Conference. As a result, the TRUMP (MAGA) price increased from $3 to $4.19 a few hours ago. With this, the token has surged 30% in the last 24 hours and 44.6% over the week, currently trading at $4.08 with a market capitalization of $179,480,246. Moreover, there is a high demand for this token as the trading volume is up by 137.5%, currently at $7,680,681.
At the same time, MAGA (MAGA) price is also up by 36% in the last 24 hours and 113% over the week. This jump is mainly due to the Elon Musk speech, where the price has grown from $0.0001118 to $0.0001689, currently at $0.0001496. Additionally, it has a market cap of $58,396,682 and a trading volume of $24,137,743 after a 122% surge.
However, these surges are not the best, as their best performances are way too high than this. MAGA peaked at $0.0007461 four months ago, but compared to that, the price has plummeted almost 80%. The same is the case with TRUMP, as it created an ATH four months ago at $17.52 but has plummeted 77% since then. With this, there is a lot of space for these tokens to grow.
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