Whale Makes $8 Million With Trump-Inspired Memecoin As PolitiFi Tokens Soar

The Trump-inspired tokens surged around 40% following Donald Trumps assassination attempt. As a result, PolitiFi tokens closed the week, outperforming most categories in the industry. The remarkable performance earned some crypto whales millions in profits from the MAGA (TRUMP) memecoin. Related Reading: 1,000 Bitcoin On The Move: Satoshi-Era Whale Stirs The Crypto Waters Crypto Whale Profits From TRUMP Memecoin On Sunday, on-chain tracking platform Lookonchain reported that a crypto whale had made millions from a Trump-inspired memecoin. An address deposited all their TRUMP holdings to the crypto exchange BTSE. Per the report, the whale bought 1.08 million TRUMP between November 22 and December 4, 2023. The address acquired the tokens at an average price of $0.5, spending $540,000 for the memecoin. Seemingly, the whale made $8.85 million from the tokens, $8.3 million of which were profits. Per Lookonchain, the wallet was suspected to be owned by renowned crypto trader GCR. However, it was later confirmed the address in question wasnt related to the crypto trader. Lookonchain also reported another address holding a significant amount of the Trump-inspired memecoin. The second address, also suspected to be linked to the crypto trader, has $6.5 million in unrealized profits from TRUMP. The whale wallet tagged “GCR: Address 1” spent over $700,000 to buy 936,279 TRUMP. The address bought the tokens at an average of $0.75 between December 8, 2023, and January 18, 2024. At the time of the report, the whales holdings were worth around $7.23 million. Nonetheless, it hasnt been confirmed if this address is linked to the renowned crypto trader. PolitiFi And Trump-Inspired Tokens Soar Over the weekend, former US President Donald Trump survived an assassination attempt. The Republican Presidential Candidate got shot in the ear during a campaign rally in Butner, Pennsylvania. Following the news, PolitiFi tokens soared over 30%. DeFi creator and analyst Jake Pahor shared that the PolitiFi sector outperformed most categories over the weekend. Pahor cited DeFiLlama data, revealing that PolitiFi tokens rose 36.7% last week. The DeFi analyst also noted that all categories outperformed Bitcoin over the past 7 days, possibly indicating a shift towards a risk-on environment. Before the failed Trump assassination attempt, Trump-inspired memecoins saw a pump. The tokens surged after the former US President was announced as a keynote speaker at the Bitcoin 2024 Conference on July 27. TRUMPs price went from $5.74 to $6.54 after the news. This performance represented a 15% and 39.5% surge in the daily and weekly timeframes. Since then, the biggest Trump-themed memecoin has seen a 35% rise, fueled by the most recent incident. Following the assassination attempt, the token went from the $6.3 price range to the $9.51 mark, increasing by over 50% in twelve hours. On Sunday, the memecoin hovered between the $7.3-$7.9 price range, starting the week trading at $7.47. Related Reading: Notcoin (NOT) Ignites Crypto Market, Analyst Predicts 25% Rally As of this writing, TRUMP exchanges hands at $8.15, a 3.8% increase in the last day. This performance also represents a 35.3% and 22.2% rise in the one-week and two-week timeframes. Featured Image from Unsplash.com, Chart from TradingView.com

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Trump-Inspired Memecoins Crash 30% After Rumors Of Trumps Official Token Launch

The crypto industry has been a crucial topic in the electoral campaign for the November US presidential elections. This year, presidential candidates have embraced cryptocurrencies to obtain the industrys support. As a result, the community has capitalized on the momentum with Memecoins. Related Reading PolitiFi tokens, a new memecoin category inspired by political figures, have [...]

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Arthur Hayes: How PolitiFi Tokens Could Disrupt Elections and Campaigns

Hayes says PolitiFi tokens act as real-time sentiment indicators, letting people show political support without fear of social backlash.

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PolitiFi Memecoins Soar: Trump-Themed Tokens Rally 30% Ahead Of US Elections

Just hours away from the US presidential elections, PolitiFi tokens have seen a remarkable boost. The sector has experienced a nearly 10% surge in the last 24 hours, with Trump-themed memecoins leading the way. Following the recent performance, some investors forecast a massive rally for these tokens in the coming days. Related Reading: Is The Bitcoin Bull Market Over? Analyst Reveals Bear Case That Could Send Price To $28,000 Trump-Themed Memecoins See 30% Jump The PolitiFi sector gained popularity after several memecoins inspired by US politicians registered a massive performance earlier this year. Some tokens had their market capitalization break above the $100 million mark, with a couple still holding the feat. Memecoins inspired by the former US President and Republican candidate Donald J. Trump have led the sector throughout his presidential campaign. The tokens recorded massive rallies this year, hitting their peak during Q2. Cryptocurrencies like MAGA (TRUMP) and Doland Tremp (TREMP) hit the $17 and $1.5 marks, respectively, as their all-time high (ATH), fueled by Trumps crypto-friendly statements. However, most of these cryptocurrencies have retraced significantly since June, pulling back over 70% in most cases. Now that the elections are just hours away, the PolitiFi sector is soaring again, surging around 10% in the last 24 hours, while the crypto market sees a 1.5% retrace. Memecoins themed after Trump held their lead, registering green performance during the past day. TRUMP has seen a 26% surge in the last 24 hours, trading above the $3.8 range. Meanwhile, MAGA Hat (MAGA) records a 32.6% price jump in the same timeframe, nearing a $90 million market cap earlier today. MAGAs daily trading activity has also increased nearly 30%, registering a $41.7 million trading volume on the last day. PolitiFi Tokens In The Hands Of The Election The sectors rally is seemingly fueled by the anticipation surrounding the elections. Notably, volatility is forecasted to peak in the following days as speculation about the elections outcome increases. Some investors believe the PolitiFi tokens rally will continue in the following days, with Trump-themed memecoins expected to skyrocket in case of Trumps victory. Just 10 hours before the election, the Republican candidates winning odds are considerably higher than the Democratic nominee, Kamala Harris. Polymarkets live forecast shows that Trump leads the prediction market with a 15% gap. Following the presidential debate, the former president lost ground to the US Vice President in early September. At the time, the Democratic nominee surpassed Trumps winning odds by 4%. However, these have seen a significant retrace in the last month. Related Reading: ADA Slips Below $0.3389 Level, Deeper Downtrend Looming? The Republican candidate regained his lead in October, recording a considerable 33% gap between his winning odds and Harris. By the end of the month, Trump led the predictions market with a 66% chance of winning, which has now retraced to 57%. Amid Trumps winning odds, the memecoins inspired by the US VP have recorded a considerable decrease in the past day. Kamala Horris (KAMA), the largest Harris-inspired token, retraced nearly 25% in the last 24 hours, seeing a 34% decrease in daily trading activity. Featured Image from Unsplash.com, Chart from TradingView.com

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