The crypto market has witnessed the bull run of some of the meme coin in a while, and a crypto trader known by the Ethereum address “whalefud.eth” has converted a $16.4K investment into $3.07M in 11 days, dragging the recent hype around Trump-themed meme coins and the $MAGA token. This impressive 187x gain was achieved through the strategic trading of $MAGA.
Since Trump expressed his support for cryptocurrencies, MAGA Coin (TRUMP), a cryptocurrency created in his honor, has experienced a significant price increase of 144%. MAGA Coin reached an all-time high of $13.29 and has gained over 98,000% in the past 12 months.
This trader turned $16.4K to $3.07M, a 187x gain, in 11 days thanks to $MAGA!Amid the #Trump #memecoins hype, “whalefud.eth” spotted $MAGA just one hour after its mint on May 16 and swapped 3 $ETH for 5.34B $MAGA.The trader later swapped another 2 $ETH for 56.8M $MAGA during… pic.twitter.com/orRbC3eOP8
— Spot On Chain (@spotonchain) May 27, 2024
Trump wallet holds 579,290 MAGA
Trump’s wallet holds 579,290 MAGA Coins, worth approximately $6.69 million, and the value of the holdings increased by $1.6 million in a single day.
The trader began his trading on May 16, 2024, when “whalefud.eth” surprisingly identified the potential of the $MAGA token within an hour of minting. The trader swapped 3 ETH, worth $16.4K, for 5.34 billion MAGA tokens. The trader made a strategic move during a market dip. On May 21, he swapped an additional 2 ETH for $56.8 million MAGA tokens, capitalizing on the temporary price drop to support the holdings.
As the hype of the token intensifies, the value of the tokens goes up. By the end of the 11 days, “whalefud.eth” found themselves holding a total of $5.39 billion $MAGA tokens, now valued at $3.07 million.
Trump Coin has been getting popular beyond its market performance; his vocal support for crypto and self-custody rights amplifies its community. Moreover, MAGA Token’s 41st consecutive week of donations, totaling $1,235,543, fuels its credibility. With over 45,000 holders, MAGA Token has established its existence across multiple chains.