Many Crypto Investors From TRUMP Tokens, Rp1.48 Million To Rp46.5 Billion, How Come?

JAKARTA - Memecoin aka coin meme is a crypto asset aimed at having fun or just being funny. Therefore, meme coins are often inspired by various things that go viral in cyberspace. Although at risk, some investors see this volatile meme coin as a golden opportunity due to significant price increases in a short time.

This time, a crypto investor succeeded in converting a small capital of US$96 (Rp1.48 million) to more than US$3 million (Rp46.5 billion) through the trading of TRUMP tokens (MAGA). A report from blockchain analysis platform Lookonchain revealed that this investor made an extraordinary profit of up to 32,000 times the initial capital invested in the newly launched token.

The transaction began on 12 August 2023 when the investor bought 608,650 TRUMP tokens for just 0.052 ETH or the equivalent of 96 US dollars (Rp1.48 million) at the time. TRUMP tokens, which were then only listed on several decentralized crypto exchanges (DEXs), continued to experience a significant increase in value in the following months, allowing these investors to reap huge profits.

In an effort to maximize profits, investors are starting to sell part of their holdings. To date, he has sold 6,000 TRUMP tokens for 11.4 ETH, worth around US$30,000 (Rp.465 million). However, the investor still holds about 554,564 TRUMP tokens, which are now worth around US$3.06 million (Rp47.43 billion).

The increase in the price of TRUMP tokens is likely triggered by increased public interest in the United States presidential election and Donald Trump's involvement in politics. These factors also encourage the interest of the crypto market in TRUMP tokens.

In the past week, the price of TRUMP tokens has soared by more than 15%, and continues to show a positive trend. Even in the last 24 hours, the price of these tokens has risen by more than 5%. At the time of writing, TRUMP tokens are trading at a price of 5.43 US dollars (Rp84,165) per token. In the past week, TRUMP (MAGA) rose 7.3% on the market of CoinGecko data, October 18, 2024.