According to the latest on-chain data, a MAGA whale recently minted a staggering $8.3 million in profits from the TRUMP price rally over the past weekend. Since the failed attack, meme coins have been rallying even harder.
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The wallet, suspected to belong to GCR (@GiganticRebirth), deposited 1.08 million TRUMP tokens to an exchange. Another address, labeled “GCR: Address 1,” still holds 936,279 TRUMP tokens, valued at $7.23 million. Poltifi Tokens have also seen significant gains following the failed attack on Donald Trump.
Major TRUMP Wallet Profits from Token Rally Amid Trump’s Foiled Attack
On-chain data provider Lookonchain reported that a TRUMP wallet, suspected to belong to GCR (@GiganticRebirth), has deposited 1.08 million MAGA tokens worth an impressive $8.85 million to the BTSE exchange in recent hours. The total realized profits from this transaction were around $8.3 million. The wallet initially spent 540,700 USDT to acquire 1.08 million TRUMP tokens at an average price of $0.50 between November 22 and December 4, 2023.
Additionally, another address tagged “GCR: Address 1” still holds 936,279 TRUMP tokens worth $7.23 million and has yet to sell. This address is currently sitting on a potential profit of over $6.5 million.
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Lookonchain. Source: X
The foiled attack on Donald Trump last Saturday significantly boosted his re-election chances. With Trump positioning himself as a pro-crypto candidate, Bitcoin and the broader crypto market experienced a strong rally. Over the weekend, the MAGA (TRUMP) price surged by a remarkable 60%, surpassing $10. However, following the whale’s profit-taking, the meme coin has corrected nearly 25% from its peak. On the weekly chart, MAGA still trades at a 42% premium, with a market cap of $334 million.
Despite the attack, Donald Trump remains committed to attending the Bitcoin 2024 Conference, scheduled for the last week of July.
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Meme Coins Surge Over the Weekend; New Opportunities with Politifi Tokens
Alongside the MAGA coin, other meme coins have experienced strong rallies over the past weekend. All of the top ten meme coins have risen by 4-10% in the last 24 hours.
Amidst the political turmoil, Politifi Tokens now present a new buying opportunity. Trump’s upcoming speech at the Bitcoin 2024 conference is expected to have an even greater impact on the market.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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