A crypto trader with the Ethereum address “whalefud.eth” has recently achieved a remarkable feat in the crypto market. By strategically trading the MAGA Coin (TRUMP), a meme coin inspired by former President Trump, the trader turned a $16.4K investment into a staggering $3.07M in just 11 days. This impressive gain of 187 times the initial investment has garnered attention and fueled the hype surrounding Trump-themed meme coins.
The surge in MAGA Coin’s value can be attributed to Trump’s expressed support for cryptocurrencies. In the past 12 months alone, MAGA Coin has experienced a significant price increase of 144%. It reached an all-time high of $13.29 and has witnessed an extraordinary growth of over 98,000%.
Interestingly, Trump himself holds a considerable amount of MAGA Coins in his wallet. With 579,290 MAGA Coins, valued at approximately $6.69 million, Trump’s holdings have seen a remarkable increase of $1.6 million in a single day.
The trader, “whalefud.eth,” embarked on their trading journey on May 16, 2024, when they astutely recognized the potential of the MAGA token shortly after its creation. In a smart move, the trader exchanged 3 ETH, equivalent to $16.4K, for a staggering 5.34 billion MAGA tokens. Sensing an opportunity during a market dip, the trader further capitalized on the temporary price drop by swapping an additional 2 ETH for $56.8 million MAGA tokens on May 21.
As the hype surrounding the token intensified, the value of the MAGA tokens skyrocketed. By the end of the 11-day period, “whalefud.eth” found themselves holding a total of $5.39 billion worth of MAGA tokens, which translated to an astonishing $3.07 million.
Beyond its market performance, Trump Coin has gained popularity due to Trump’s vocal support for cryptocurrency and the rights of individuals to custody their assets. The MAGA Token has also solidified its credibility through 41 consecutive weeks of donations, totaling $1,235,543. With a strong community and over 45,000 holders, MAGA Token has successfully established its presence across multiple chains.