A #cryptocurrency trader successfully increased their investment from $10,000 to an incredible $1.3 million through a strategic purchase of the #TROLL token. This financial turnaround occurred after Elon Musk changed his job title to "Chief Troll Officer" on his profile on the X platform.
From Small Investment to Million Dollar Profits: A Story of Incredible Growth
Records from Etherscan, processed by the analytics firm LookOnChain, showed that the trader invested about $10,000 (equivalent to 4.3 #Ether ) in purchasing 19 trillion TROLL tokens. After a short time, they sold half of their tokens to cover their original investment, while the rest of their portfolio reached a value of $1.34 million at one point.
TROLL Coin Price Fluctuations: Steady Profits Despite Decline
Although the price of the TROLL token has declined from its peak, the current value of the trader's portfolio is still an impressive $864,000. This represents a gain of 8,540% on their initial investment.
The trader’s holdings are worth $864,000 at current prices. Source: DeBank
Rise and Fall of MemeCoin TROLL: Elon Musk's Influence
TROLL, launched in April 2023, experienced the usual fluctuations of a memecoin until January, when Musk's change in his X profile bio triggered a massive surge in the token's value, over 150,000% in three days.
Troll launched to little fanfare in April 2023. Source: DexScreener
History of Musk's Tweets and Their Impact on Cryptocurrencies
Already in 2021, Musk's tweets dramatically influenced the values of memecoins like #Dogecoin . A similar phenomenon was observed with the memecoin Grok (GROK), which unexpectedly became one of the major players in the memecoin world.
The Risks of Speculating with Memecoins: The Example of GROK
Grok reached its peak with a price of $0.027 per token on November 13th, ranking it among the most significant new memecoins. However, investors who joined later suffered losses after the revelation that GROK was part of older projects, as uncovered by blockchain detective ZachXBT.
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