MAGA Whale Earns $8M Profit Following Donald Trump Assassination Attempt

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As a seasoned crypto investor with years of experience under my belt, I’ve seen my fair share of market fluctuations and whale activities. The recent developments surrounding the TRUMP coin, particularly the profit-taking by the MAGA whale, have caught my attention.

Based on the most recent data from the blockchain, I’ve discovered that a significant investor, known as a “MAGA whale,” has realized a substantial profit of approximately $8.3 million. This impressive gain came about as a result of the price surge in TRUMP coins following the failed attempt to target former US President Donald Trump last weekend. The buzz surrounding meme coins has intensified even further, leading to an even more pronounced rally.

MAGA Whale Books Big Profits

According to reports from on-chain data provider Lookonchain, a suspected TRUMP wallet linked to the Twitter handle @GiganticRebirth has transferred approximately 1.08 million MAGA tokens, equivalent to around $8.85 million, to the BTSE exchange within the recent hours. The earnings from this transaction are estimated to amount to roughly $8.3 million.

Back in November and December of 2023, I invested a significant sum of 540,700 USDT into purchasing TRUMP tokens. The total number of tokens I acquired amounted to 1.08 million, with each token costing me an average price of $0.50.

It appears that an additional address labeled “GCR: Address 1” continues to hold approximately 936,279 TRUMP coins valued at around $7.23 million. This unsold stock brings a potential gain of over $6.5 million.

The label “GCR: Address 1” on another address continues to hold approximately $9.36 million in TRUMP tokens ($7.23 million cost basis), which have yet to be sold. A potential profit of over $6.5 million would result from the sale of these tokens.
— Lookonchain (@lookonchain) July 15, 2024

As a researcher studying recent political events, I can share that last Saturday’s attempted attack on Donald Trump failed in its objective. This turn of events significantly improved Trump’s prospects for re-election in the upcoming US presidential race. Intriguingly, this development coincided with a surge in Bitcoin and the wider cryptocurrency market. Trump has been vocal about his support for cryptocurrencies, positioning himself as a pro-crypto candidate. As a result, the crypto community rallied behind him during this time, bolstering both his campaign and the value of their digital assets.

Over the past weekend, the price of MAGA (TRUMP) coins experienced a remarkable surge, reaching over $10 and increasing by approximately 60%. Nevertheless, after large-scale selloffs from major investors, also known as “whales,” the coin has since corrected, decreasing by around 25% from its peak. On the weekly chart, MAGA continues to trade at a significant price premium of 42%, with a market capitalization of $334 million.

Despite the recent attack, Donald Trump has shown his determination to attend the Bitcoin 2024 Conference, which is scheduled for the last week of July.

Meme Coins Rally Harder

Over the weekend, the MAGA coin joined other popular meme tokens in experiencing significant gains. The top ten meme coins have surged between 4% and 10% in value over the past 24 hours.

As a crypto investor, I’m keeping a close eye on the ongoing political developments and seeing the potential in Politifi Tokens amidst the turmoil. The anticipation surrounding Trump’s speech at the Bitcoin 2024 conference is growing, and the impact it could have on the market is now expected to be even greater than initially thought.

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2024-07-15 07:56