On-Chain Data Reveals Crypto Trader’s Massive 16x Earnings from Memecoin Surging 66,000% in Just Nine Months

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    <p>An astute cryptocurrency trader realized a staggering profit exceeding 16 times their initial investment, accruing millions from a Donald Trump-themed meme token whose value has surged this year.</p>
    <p>Analytical platform Lookonchain <a target="_blank" href="https://x.com/lookonchain/status/1812666350332235905" rel="noopener">highlighted</a> the activities of a wallet, likely owned by the enigmatic trader known as <a target="_blank" href="https://www.arkhamintelligence.com/research/gigantic-rebirth-crypto-trader" rel="noopener">Gigantic Rebirth</a>, which utilized 540,700 in the leading stablecoin <a target="_blank" href="https://dailyhodl.com/currencies/usdt/" rel="noopener">USDT</a> to purchase about 1.08 million MAGA coins (<a target="_blank" href="https://dailyhodl.com/currencies/maga/" rel="noopener">TRUMP</a>) at an approximate unit cost of $0.5 during November and December 2023.</p>

    <p>Subsequently, that wallet transferred the entire 1.08 million TRUMP tokens to the BTSE exchange during the past weekend, reaping an approximate windfall of $8.3 million.</p>
    <p>Lookonchain also <a target="_blank" href="https://x.com/lookonchain/status/1812667810239394198" rel="noopener">reported</a> that another wallet labeled "GCR: Address 1" is still in possession of 936,279 TRUMP tokens valued at $7.23 million, implying unrealized gains surpassing $6.5 million. It is noted that GCR is an alias for Gigantic Rebirth.</p>
    <p>At the time of this information, the TRUMP token is priced at $7.21 and has seen a decrease of just under 10% in the last day. As the 191st crypto asset in terms of market capitalization, TRUMP's value <a target="_blank" href="https://dailyhodl.com/2024/07/15/maga-memecoin-soars-as-donald-trumps-chances-of-winning-presidency-skyrocket-on-polymarket/" rel="noopener">spiked substantially</a> following a failed attempt on former President Trump's life.</p>
    <p>The meme token has recorded an immense gain of over 63,000% from its historic low of $0.01136, which occurred in mid-October.</p>
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        <h6>Disclaimer: Views expressed by The Daily Hodl are not meant to serve as investment guidance. We recommend that investors carry out thorough research before engaging in potentially risky transactions involving Bitcoin, cryptocurrency, or digital assets. Please acknowledge that your activities and their consequences are your responsibility, and any potential losses are yours alone. Despite not functioning as an investment advisor, The Daily Hodl does not advocate for the purchase or sale of cryptos or digital assets. The Daily Hodl may take part in affiliate marketing programs.</h6>
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