A smart trader earned a profit of $814 SOL using two Trump-based meme coins.
$FREE, a Trump-based token rallied 450.49% in market price in the last 24 hours.
The guilty verdict for former US President Donald Trump’s criminal case was passed on Wednesday at Manhattan’s Courthouse. New Yorkers flooded the streets outside the courthouse in support of the 2024 presidential candidate. Within the crypto sector, this incident has caused the creation and trending of multiple Trump-themed meme coins.
One meme coin, FREE, has skyrocketed in market price by a significant 450.49% in the last 24 hours according to CMC data. Meanwhile, the other Trump meme coin, Never Surrender surged by 264% in market price. However, a prominent Trump-themed meme coin, MAGA hasn’t witnessed a significant surge on Friday.
Notably, during the Asian morning hours, a particular trader made approximately 972 Solana (SOL) worth $167K by trading two of the tokens. Free Trump (FREE) and Never Surrender (TRUMP) yielded him the SOL profits.
Moreover, the smart trader initially spent 85 SOL ($14.6K) and bought $FREE. As the token witnessed the price rally, the trader later sold it for 814 SOL ($140K) making a profit of 729 SOL ($125K). The second meme coin, $TRUMP was bought for 72 SOL and earned him a profit of 243 SOL worth of $42K as reported by LookOnChain.
What Does Trump’s Pro-Crypto Stance Intend?
The 45th US president, having led a pro-crypto election campaign, has received significant support from the crypto community. He has inspired the creation of over a hundred different crypto assets in the form of meme coins.
Moreover, Trump has stated that, if he wins the 2024 elections, his government will focus significantly on cryptocurrency. Recently, X founder Elon Musk and the presidential candidate discussed crypto policies. Trump has expressed that his government will work to make the US a leading nation in the sector.
Additionally, in the recent past, Trump’s activities within the crypto community have fueled price surges. In light of the recent court statement, a significant rally was exhibited by meme coins based on the presidential candidate. Among the tokens, FREE has shown the highest surge in market price.
Apart from cryptocurrency, Donald trump has also shown interest in Non-Fungible Tokens (NFT). He released his own NFT collection the ‘Trump Digital Trading Cards’ in 2022 on the Polygon blockchain. Following this he also launched a second series in 2023.
Finally, the presidential candidate awaits sentencing for his criminal charges on July 11. He is expected to receive up to four years of prison time.
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