Crypto Trader Makes Millions on Trump-Themed Memecoin

A crypto trader made a massive profit on a Donald Trump-themed memecoin that has skyrocketed in value this year.

According to Lookonchain , a wallet linked to the trader known as Gigantic Rebirth (GCR) used $540,700 in USDT to purchase 1.08 million MAGA (TRUMP) tokens at an average price of $0.50 in late 2023.

Over the weekend, this wallet transferred all its TRUMP tokens to the BTSE exchange, resulting in an $8.3 million profit.

Another wallet, tagged “GCR: Address 1,” still holds 936,279 TRUMP tokens valued at $7.23 million, showing profits of over $6.5 million.

TRUMP, currently trading at $7.21, has seen a recent decline of 9.5%.

Despite this, the memecoin has surged over 63,000% from its mid-October low of $0.01136, especially after a high-profile incident involving former President Trump.