This Lucky Crypto Trader Made Over $100 Million on Trump's Meme Coin

Donald Trump made headlines this past weekend by launching his own meme coin called TRUMP. While many traders were caught by surprise, one anonymous trader made a remarkable amount of money in a very short time.

Just four hours before Trump announced the launch of his TRUMP meme coin on Friday evening, this trader filled a new crypto wallet, named "6QSc2," with over $1 million worth of SOL, a cryptocurrency on the Solana network. The trader patiently waited for the news to break.

As soon as Trump announced the coin on Truth Social, the wallet quickly executed a purchase of more than 5.9 million TRUMP tokens, emptying the entire $1 million. Within just a few hours, these tokens skyrocketed in value to over $116 million.

After acquiring the tokens, the trader divided them into ten different Solana wallets to manage the large amount. According to analysis by the on-chain research firm Bubblemaps, by Monday morning, the trader had already sold $85 million worth of the TRUMP tokens and still held another $75 million. Currently, the combined wallets only own $18 million worth of the meme coin, indicating that the trader likely sold off the majority of their holdings.

However, the weekend saw another twist. On Sunday, First Lady Melania Trump joined the action by launching her meme coin, MELANIA. Once again, the savvy trader was quick to act. One of their wallets made a large purchase of MELANIA tokens within a minute and a half after Melania's announcement on Truth Social, even before the token was mentioned anywhere else.

Interestingly, the trader funded the purchase of this large MELANIA stash by selling $45 million worth of TRUMP. This sudden sale caused the value of the TRUMP token to drop nearly 50% in a very short time frame, as reported by Bubblemaps.

The success of this trader led to speculation about potential insider trading. Reports surfaced on X about other early investors in TRUMP tokens who also saw significant profits, raising questions about whether any privileged information was shared prior to the announcements. While Decrypt could not confirm any insider information, the connections between various wallets linked to the winning trader have raised eyebrows.

Given that the large purchase was made before most crypto enthusiasts even realized the news wasn’t a scam, scrutiny increased. However, it is also plausible that this trader was simply in the right place at the right time, ready with a new wallet and made an informed decision based on market sentiment. The transaction history of the connected wallets shows a pattern of frequent trading, especially in meme coins, over the last few months, indicating the trader’s experience in this niche.

While this trader appeared to strike gold, the possibility of connections to insider information remains. Several Solana decentralized finance projects, such as Jupiter and Meteora, disclosed that they collaborated with the TRUMP token team before the launch to ensure everything went smoothly.

In a surprising twist, Ran Neuner, a prominent figure in the crypto space and co-founder of Onchain Capital, made a comment on X about receiving advanced notice of the MELANIA token launch. He expressed his discomfort with the idea that the Trumps were profiting at the expense of the crypto community.

Even before Melania's announcement, Neuner posted about the token on his timeline. This led to further discussions about whether there was any unethical behavior regarding the insider information that might have been leaked.

As of now, TRUMP tokens have seen a slight increase of 8%, while MELANIA has dropped nearly 24%. The world of cryptocurrency remains complex and unpredictable, and this series of events has highlighted both the opportunities and challenges that come with trading in this volatile market.

crypto, trader, meme