A savvy trader recently made a profit of $814 SOL by investing in two meme coins inspired by former US President Donald Trump. One of these coins, $FREE, experienced a remarkable 450.49% increase in its market price within the last 24 hours. This surge can be attributed to the guilty verdict passed on Trump’s criminal case, which resulted in a show of support for him outside the Manhattan Courthouse.
The trader capitalized on this opportunity by investing in two Trump-themed meme coins: Free Trump (FREE) and Never Surrender (TRUMP). Initially spending 85 SOL ($14.6K) on $FREE, the trader later sold it for 814 SOL ($140K), earning a profit of 729 SOL ($125K). The second coin, $TRUMP, was bought for 72 SOL and yielded a profit of 243 SOL worth $42K.
Trump’s pro-crypto stance has garnered significant support from the crypto community. During his election campaign, he emphasized his interest in cryptocurrency and promised to prioritize it if reelected in 2024. This has led to the creation of numerous Trump-themed meme coins. Trump has also engaged with influential figures like Elon Musk to discuss crypto policies and has expressed his desire to make the US a leading nation in the crypto sector.
In addition to cryptocurrency, Trump has shown interest in Non-Fungible Tokens (NFTs). In 2022, he released his own NFT collection called “Trump Digital Trading Cards” on the Polygon blockchain, followed by a second series in 2023.
As for his ongoing legal issues, Trump is awaiting sentencing on July 11 and could potentially face up to four years in prison. Despite this, his activities within the crypto community continue to influence price surges, as seen in the recent rally of meme coins associated with him.
In other crypto news, Robinhood has launched a Crypto Trading API for its users in the US, providing them with more accessibility and convenience in trading cryptocurrencies.