Written by: Frank, PANews
Recently, with the attack on Trump, many Trump-related MEME coins have once again dominated the market. The Trump-related MEME coin with the highest market value, TRUMP, has been issued for nearly a year, with a maximum increase of more than 335,000 times and a market value of nearly $800 million. Many wealth myths have also been created on TRUMP.
Why can TRUMP stand out among many concept currencies? How do these whales capture such a wealth code? PANews may be able to give the community some inspiration by exploring the reasons.
A crypto campaign base built by supporters?
MGAG (token code Trump) was issued on the Ethereum chain on August 11, 2023, the same day that the judge hearing Trump's case issued a protective order to Trump. Influenced by this news, Trump tokens were issued. TRUMP tokens are strictly different from traditional MEME coins. In addition to having exclusive websites and social media like other MEME coins, the operators of TRUMP tokens are not as happy to play memes as other MEME coins.
In actual operation, the TRUMP project has donated 550 ETH (worth $1.74 million) to veterans and children's rescue organizations in 48 weeks, and rarely attracts attention by making MEME pictures. This operation does make it look more like part of Trump's campaign team rather than a gathering place for speculators.
The current public TRUMP participant is Steven Steele, who claims to be the marketing director of TRUMP tokens. His public introduction on Twitter is talk show host, recording artist, creative consultant, etc. According to Steven Steele, he will promote TRUMP tokens at the Republican National Convention. Another official website event host is Shawn Farash, who is a Trump supporter and a constitutional conservative. As of now, other TRUMP team members remain anonymous.
Compared with other MEMEs, TRUMP also belongs to the PolitiFi category, which is an obstacle to its listing on large exchanges. Steven Steele once said that the TRUMP team failed in its attempt to list on Kraken and other exchanges this year because the TRUMP token was too political and could bring political risks to the exchange.
Legendary trader GCR layout, the largest income address exceeds 14 million US dollars
The address with the fourth largest TRUMP token holdings (also the largest individual holding address) is marked as GCR, holding 966,000 TRUMP, accounting for about 1.99%. This address started buying TRUMP tokens as early as December 9, 2023, and invested a total of about US$700,000 to buy TRUMP tokens. The current holding value has reached US$7.26 million, with a yield of more than 10 times. The cost of the first batch of positions was only US$0.27, and the price has increased nearly 30 times since then.
According to community speculation, GCR may refer to GCRClassic, also known as Giant Cassock Revival, an OG trader who may have made the most profit from the FTX and Luna crashes. In July 2022, GCR expressed on social media that he was optimistic about Trump as the Republican candidate in 2024, and suggested going long on Trump-related concept stocks and cryptocurrencies. Judging from the time GCR entered the market, his strategy should be to continue to be optimistic about Trump, and then wait for the relevant concept coins to come out in the market before buying and holding for a long time.
Trump or his team's currency holding address currently holds 579,000 TRUMP, worth about $4.5 million. However, Trump himself did not spend money to buy the token. These tokens all came from TRUMP official donations. The earliest donation was on August 19, 2023, with a total of 469,901 tokens sent, which were worth $4,214 at the time (currently worth $3.55 million). Later, the address received about 100,000 TRUMP tokens.
To date, most Trump-related token projects choose to donate tokens to this address. Now the address has more than 1,300 types of tokens with a total holding value of more than US$9.52 million.
0x63a7C66b7ef9beDF7Bb3BA36cE3f831a50eF33B2
The holdings of this address are right after Trump's address, and it is also one of the traders with the largest profit. As early as August 12, 2023, this address spent 1.1ETH to purchase 470,000 TRUMP tokens, which are worth $3.59 million to date. This return rate reached 1,795 times. Later, the address continued to replenish its positions, with a total investment of $49,235. So far, it has sold $1.99 million worth of tokens, and the total profit of its holdings is $5.76 million.
0xf8Ce9f1bD06C7559ff45336D55B1C9de46CE019D
(waxl.eth) This address is a MEME coin trading master and the account with the most profit on TRUMP. Its main success comes from TRUMP, and its holding profit from TRUMP tokens has exceeded 14 million US dollars so far. The initial investment of this address was only 5,000 US dollars. Judging from his @WaxlNakamoto Twitter account, he is also a loyal fan of Chainlink.
Are presidential expectations necessarily good for the market?
Judging from the trend of TRUMP, the source of the high point in March was that Trump was reinstated in the presidential primary. The highest point price in early June exceeded $17, when Trump was found guilty by the jury. From a positive perspective, this news was not good for Trump, but it still pushed the price of this token up wildly.
However, the attack on Trump did not bring the imagined surge in the TRUMP token. On the contrary, judging from the market performance, the attention of the TRUMP token is being distracted by other new Trump-related tokens. As Trump's campaign presents more distinctive content, new tokens such as Fight, EAR, Fear not, etc. are gradually eroding the market share of the TRUMP token.
After the attack on Trump, TRUMP also saw a 40% rise on July 13, but then fell back by about 20% in the following days. And this rise can only be regarded as a rebound on the K-line chart, which does not reflect the popularity of this incident.
Looking at several newly issued Trump-themed tokens, the FIGHT token was launched on Ethereum on July 14, with an opening price of 0.0002386. As of July 17, it rose to a high of 0.08128, an increase of 340 times. Another FEAR NOT token has also increased nearly 1,000 times since its opening. From the perspective of wealth effect, the new token is indeed more cost-effective.
However, TRUMP’s market value has reached 340 million US dollars, which may be difficult for other Trump-related tokens to surpass in a short time. As the presidential campaign enters a more intense stage, I believe that more Trump or other political concept coins will emerge. Whether the TRUMP token can still maintain its leading position still needs time to test. As an investor, it may be more important to get inspiration from the investment strategies of the whales.