Since the end of last week, the cryptocurrency market has shown new recovery momentum, with the digital asset pioneer Bitcoin recovering from $60,000. The meme coin sector is known for its volatile nature and speculative trading, and is often subject to dynamic movements amid new changes in the market. One crypto trader recently took advantage of this trend and made $3 million from just $96 by trading TRUMP tokens.
Crypto trader goes from $9,600 to $3 million
On August 12th, a crypto trader first purchased 608,650 TRUMP tokens on Uniswap, spending just 0.052 ETH and having a value of approximately $96 at the time. PolitiFi tokens are gaining a lot of attention among crypto investors as the competition between former President Donald Trump and US Vice President Kamala Harris intensifies.
The 2024 US presidential election and surrounding developments have had a major impact on top meme coins, allowing smart crypto traders to take advantage of the high momentum rally.
According to Etherscan, the aforementioned cryptocurrency traders have begun selling some of their TRUMP holdings and have booked profits after a notable recovery. Yesterday, a trader sold 6,000 Trump tokens for 11.4 ETH (worth about $30,000)
Despite this sale, the crypto trader still holds a large amount of TRUMP tokens, with 594,564 remaining in his wallet, worth a whopping $3.06 million.
At the time of writing, the TRUMP token is trading at $4.2, with an intraday loss of 18.8%. Subsequently, the market capitalization rose to $180.1.
PolitiFitokens like MAGA (TRUMP), MAGA HAT (MAGA), and Doland Tremp (TREMP) are on aggressive bullish momentum as Doland Trump winning stakes soar to 60.1% on prediction market platform PolitiFitokens You should see it.
Ethereum and Solana: A growing meme coin platform
Beyond the success of TRUMP, other meme cryptocurrencies on the Ethereum and Solana blockchain are regaining investor attention. These joke coins are built on Ethereum's robust infrastructure and the highly scalable Solana blockchain, which thrives on community-driven hype.
Ethereum memes such as Shiba Inu (SHIB) and Pepecoin (PEPE), and Solana-based coins such as Dogiu Fat (WIF) and Gluteus maximus (GOAT) position for extended recovery amid growing interest in utilities and whales It is being
Conclusion:
The ability to turn $96 into $3 million is amazing and shows how meme cryptocurrencies can transform crypto traders from zero to hero. However, investors should exercise caution when trading these assets as their volatility can sway trading sentiment in seconds.
Frequently asked questions (FAQ)
This trader invested 0.052 ETH (approximately $96) to purchase 608,650 TRUMP tokens on Uniswap in August 2023. As TRUMP's price skyrocketed, traders sold some of their holdings, ultimately turning their initial $96 into $3 million.
The 2024 US presidential election, especially the competition between Donald Trump and Kamala Harris, has significantly increased the popularity of PolitiFi tokens.
Memecoin is thriving on the Ethereum and Solana blockchains due to its robust infrastructure and community-driven hype.
Sahil Mahadik
Sahil is a dedicated full-time trader with over 3 years of experience in financial markets. He has a strong grasp of technical analysis and keeps a close eye on daily price movements of top assets and indices. Drawn by his fascination with financial products, Sahil enthusiastically embraced the emerging field of cryptocurrencies and continues to explore opportunities driven by his passion for trading.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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