The
Trump-inspired
tokens
surged
around
40%
following
Donald
Trump’s
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

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
wasn’t
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
whale’s
holdings
were
worth
around
$7.23
million.
Nonetheless,
it
hasn’t
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.

TRUMP’s
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

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

Go to Source
Author: Rubmar Garcia

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