On-Chain Data Reveals Crypto Trader’s Massive 16x Earnings from Memecoin Surging 66,000% in Just Nine Months
2 min read![On-Chain Data Reveals Crypto Trader'S Massive 16X Earnings From Memecoin Surging 66,000% In Just Nine Months 1 Crypto Trader Nets Over 16X Profit On Memecoin That’s Exploded Over 66,000% In Nine Months: On-Chain Data](https://cryptoinfonet.com/wp-content/uploads/2024/07/On-Chain-Data-Reveals-Crypto-Traders-Massive-16x-Earnings-from-Memecoin-1024x600.jpg)
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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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