In recent developments within the cryptocurrency market, MAGA ($TRUMP), a token associated with former US President Donald Trump, has skyrocketed to an all-time high of $5.242.
The surge reflects a remarkable 42% increase in value over the past week, marking significant growth for the digital asset.
The abbreviation MAGA symbolizes “Make America Great Again,” a well-known political slogan synonymous with Donald Trump’s presidency.
The surge in $TRUMP’s value is noteworthy, with a staggering 238% surge observed in the past 30 days and an astounding 1200% surge over the past three months.
交易 $TRUMP 从 9.85 ETH 赚到 395 万美金，聪明钱 0x63a…F33B2 恐怕要成为特朗普的超级粉丝了🤣
该聪明钱在 2023.08.12 – 08.22 期间以均价 $0.008112 买入 2,458,190 枚 $TRUMP ，随后在 2023.11 – 2024.02 四个月内分批卖出 169 万枚代币，获利 8.9 万美金
01.17 川普在 2024… pic.twitter.com/lzlQKKHWhZ
— Ai 姨 (@ai_9684xtpa) February 25, 2024
On-chain reports suggest that whales, prominent investors holding significant quantities of the cryptocurrency, are capitalizing on the substantial profits generated amidst the recent price surge. Notably, one such investor, identified as 0x63a…F33B2, emerged as a dedicated supporter of Trump.
An Individual Profit, $TRUMP’s Value Coincides With Donald Trump’s Substantial Success
This individual acquired 2,458,190 $TRUMP tokens at an average price of $0.008112 between August 12th and 22nd, 2023. Subsequently, they strategically sold 1.69 million tokens in increments from November 2023 to February 2024, realizing a profit of $89,000.
The surge in $TRUMP’s value experienced a significant catalyst on January 17th, 2024, coinciding with Donald Trump’s substantial success in the Republican primary voting for the 2024 elections.
This event propelled $TRUMP to surge an impressive 645 times in value since that pivotal day. As a result, the remaining position of the aforementioned smart money investor soared, now boasting a floating profit of $3.86 million.
As MAGA ($TRUMP) continues to capture attention within the cryptocurrency community, investors are closely monitoring its market dynamics and potential implications amidst the ongoing political landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.