Did Elon Musk’s Speech Spark Trump-Inspired Memecoin Rally? Trader Earns 34% After Bagging Tokens During The Address
Posted On October 7, 2024
A cryptocurrency turned a substantial profit betting on meme coins inspired by former President Donald Trump, following a fervent speech by tech mogul Elon Musk in support of the Republican presidential candidate.
What Happened: According to on-chain tracking firm Spot On Chain, the trader bagged 18,364 Maga Coin (TRUMP), worth $60,000, and as many as 2.449 billion Maga Hat (MAGA), amounting to $300,000, as soon as Musk began his live speech at the rally in Butler, Pennsylvania, on Saturday
As of this writing, the value of their TRUMP stockpile has soared to $408,262, while their portfolio in MAGA has swelled to $76,210, resulting in a total gain of over $124,472, or 34.57%.
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