Here’s How This Crypto Trader Made $160,000 With Trump’s Conviction

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As an experienced analyst, I’m always intrigued by the dynamic nature of the crypto market and how quick-thinking traders can capitalize on breaking news. In this instance, with the recent conviction of former US President Donald Trump for multiple felonies, opportunistic crypto traders saw a lucrative opportunity in the creation of Trump-based meme coins.

Opportunistic crypto traders seized the chance presented by Donald Trump’s legal predicament and turned it to their advantage. Trump, the former US president, was found guilty of 34 felonies, which included altering records related to his involvement in scandals with Stormy Daniels, an adult industry star. The business records Trump falsified encompassed reimbursements for Michael Cohen, his lawyer, who made hush money payments during Trump’s 2016 presidential campaign.

Upon this disclosure, several meme cryptocurrencies tied to Donald Trump emerged, with some experiencing rapid growth and generating substantial profits for investors.

Crypto Traders Made $160,000 With Trump-Based Meme Coins

Based on the data from Loockonchain, I discovered that I invested 85 SOL, equivalent to $14.6K, into the newly released FREE TRUMP tokens. In a span of five hours, these tokens skyrocketed in value, reaching a worth of 814 SOL or approximately $140,000. Consequently, I secured a profit of $125,000 from this investment. Moreover, using 72 SOL tokens, which were equivalent to $12.3K, I purchased NEVER SURRENDER (TRUMP) tokens. When the market prices surged, I sold these tokens for 315 SOL, worth about $54K, resulting in a profit of 243 SOL or roughly $42,000.

In just a few hours, the trader invested $26,900 and reaped a profit of an impressive $167,000 due to impeccable timing.

As the news of #DonaldTrump being found guilty, many Trump-themed #MEMEcoins were created.
As a researcher studying the cryptocurrency market, I’ve come across an intriguing example of profitable trading within a short time frame. A skilled trader managed to earn approximately 972 Solana tokens (equivalent to around $167,000) in just five hours by dealing with Trump-themed tokens – specifically, $FREE TRUMP and $TRUMP.
He spent 85 $SOL($14.6K) to buy $FREE and sold for…
— Lookonchain (@lookonchain) May 31, 2024

In the crypto world, there were certainly not just a few traders taking advantage of opportunities, as this sector is teeming with such individuals. This phenomenon leaves many people in awe and fuels excitement surrounding cryptocurrency investments. Notably, those who have invested in Solana’s meme coins have grown accustomed to substantial profits. The reason being, Solana has emerged as a go-to platform for meme coins due to its increasing popularity. With new meme coins being introduced almost daily, this trend shows no signs of slowing down.

How Are These Trump-Based Meme Coins Performing Now?

As a researcher, I’m currently observing the cryptocurrency market and noting that FREE TRUMP (FREE) is currently priced at $0.04018, representing a significant 12% rise from the previous day. The coin boasts a market capitalization of $4M and a trading volume of approximately $3.35M. Although FREE has experienced a downturn since its peak of $0.0755, its price is currently experiencing a surge. Furthermore, it’s important to mention that the price of FREE saw an extraordinary increase of 633% at the time of the recent verdict, resulting in substantial gains for crypto traders.

With regard to NEVER SURRENDER (TRUMP), the meme coin continues to expand at an impressive rate. It has experienced a significant increase of 121.78%, resulting in a value of $0.00001703. In just a short period, it has garnered massive attention and has amassed a market capitalization of $6.4 million and a trading volume of $9.03 million.

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2024-06-01 14:10