Opportunists are skilled at taking circumstances to their advantage, and one cryptocurrency trader did just that with regard to Trump’s conviction. Previously, the former US president, Donald Trump, was found guilty of 34 offenses, including fabricating documents to avoid being implicated in sex scandals involving adult industry star Stormy Daniels. Trump has fabricated financial records, including the payments made to his attorney, Michael Cohen, as reimbursement for hush money during his 2016 presidential campaign.
Many Trump-based meme coins hit the market following the disclosure, and a couple of them took off right away, gaining millions of dollars for their investors.
Cryptocurrency Dealers Made $160,000 Using Memes Based on Trump
According to Loockonchain statistics, a cryptocurrency trader purchased the recently released FREE TRUMP tokens for 85 SOL ($14.6K), which increased in value to 814 SOL, or $140,000. The trader profited $125,000 on this transaction in a matter of five hours. Once more, he purchased NEVER SURRENDER (TRUMP) with 72 SOL tokens, which is worth $12.3K. He made 243 SOL, or $42,000, in profit after selling them for 315 SOL, or $54K, when the prices spiked.
Due to his well-timed investment, the trader realized $167,000 in gains in a matter of hours, all for a total of $26.9K spent.
As the news of #DonaldTrump being found guilty, many Trump-themed #MEMEcoins were created.
A smart trader has made ~ 972 $SOL($167K) in 5 hours by trading Trump-themed tokens FREE TRUMP( $FREE) and NEVER SURRENDER( $TRUMP).
He spent 85 $SOL($14.6K) to buy $FREE and sold for… pic.twitter.com/G1uEO49Zw6
— Lookonchain (@lookonchain) May 31, 2024
This wasn’t the only cryptocurrency trader; the market is rife with these opportunists, surprising the general public and creating a buzz around cryptocurrency investing. It’s fascinating to observe that investors in Solana meme coins now consider these enormous profits to be typical. Solana has emerged as one of the most favored networks for meme currency. Every other day, more meme coins are introduced.
How Are These Meme Coins Based on Trump Doing Right Now?
As of this writing, FREE TRUMP (FREE) is up 12% from yesterday’s closing price of $0.04018. Its trade volume is $3.35 million, and its market capitalization is $4 million. Even if the meme coin’s price has dropped from its peak of $0.0755, it is currently rising once more. Additionally, the FREE price rose by 633% at the time of the ruling, meaning that every cryptocurrency trader would have made millions.
Regarding NEVER SURRENDER, the meme economy continues to expand. It has increased by 121.78%, making it worth $0.00001703. It has been extremely successful so quickly, generating a $6.4 million market capitalization and a $9.03 million TV.
