MAGA Whale Makes $8 Million Profit After Donald Trump Assassination Attempt

Bittime - According to the latest on-chain data, a MAGA whale just made a profit of $8.3 million after TRUMP's price increase last weekend. After the failed assassination attempt on former US President, Donald Trump, meme coins saw a higher spike.

MAGA Whale Big Profits

On-chain data provider Lookonchain reports that GCR's alleged TRUMP wallet (@GiganticRebirth) has deposited a total of 1.08 million MAGA tokens worth $8.85 million to the BTSE exchange in the past few hours. Total realized profits were reported to be approximately $8.3 million.

The wallet initially spent 540,700 USDT to purchase 1.08 million TRUMP tokens at an average price of $0.50 between November 22 and December 4, 2023.

However, it turns out that another address labeled “GCR: Address 1” still holds 936,279 TRUMP coins worth $7.23 million and has not been sold. This address currently has a potential profit of over $6.5 million.

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The Effect of Assassination Attempts on the Market

An assassination attempt on Donald Trump last Saturday was thwarted, significantly increasing the former US president's re-election chances. With Trump projecting himself as a pro-crypto candidate, Bitcoin and the broader crypto market recorded a strong surge.

At the end of last week, MAGA (TRUMP) prices surged by 60%, reaching over $10. However, after profit taking by the whale, this meme coin corrected almost 25% from its peak. On the weekly chart, MAGA is still trading at a 42% premium with a market cap of $334 million.

Interestingly, despite these attacks, Donald Trump remains committed to attending the 2024 Bitcoin Conference scheduled for the last week of July.

More Meme Coin Rally

Apart from MAGA coins, other meme coins also experienced strong surges over the past weekend. All of the top ten meme coins are up by 4-10% in the last 24 hours.

In the midst of this political turmoil, Politifi Token presents a new buying opportunity. Trump's upcoming speech at the Bitcoin 2024 conference is now expected to have a bigger impact on the market.

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Conclusion

With market volatility and unpredictable price movements, it is important for investors to remain vigilant and continue to monitor the latest developments. The MAGA whale that managed to achieve huge profits shows that in the crypto market, opportunity and risk always go hand in hand.

How to Buy Crypto in Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Study Complete Guide How to Buy Crypto on Bittime.