Revealing the giant whales on Trump's number one MEME coin TRUMP: Highest profit exceeds 14 million dollars
Why was TRUMP able to stand out among numerous concept coins? How did these whales capture such a wealth code?Author: Frank, PANews
Recently, with the incident involving Trump, many Trump-related concept MEME coins have once again dominated the market. The highest market cap Trump-related MEME coin, TRUMP, has been issued for nearly a year, with a peak increase of over 335,000 times, and its market cap once approached $800 million, creating many wealth myths around TRUMP.
What allows TRUMP to stand out among numerous concept coins? How did these whales capture such a wealth code? Exploring the reasons behind this may provide some insights for the community.
A Crypto Campaign Base Built by Supporters?
MGAG (token code Trump) was issued on the Ethereum chain on August 11, 2023. On that day, the judge presiding over Trump's case issued a protective order to Trump. Influenced by this news, the Trump token was released. The TRUMP token is not quite the same as traditional MEME coins. Besides having a dedicated website and social media like other MEME coins, the operators of the TRUMP token are not as keen on playing memes as others.
In actual operations, the TRUMP project has cumulatively donated 550 ETH (worth $1.74 million) to veterans and children's rescue organizations over 48 weeks, and rarely attracts attention through meme images. This operation indeed makes it look more like part of Trump's campaign team rather than a gathering place for speculators.
Currently, the publicly known participant in TRUMP is Steven Steele, who claims to serve as the market director for the TRUMP token. His public introduction on Twitter describes him as a talk show host, recording artist, and creative consultant. According to Steven Steele, he will promote the TRUMP token at the Republican National Convention. Another event host on the official website is Shawn Farash, a supporter of Trump and a constitutional conservative. As of now, other team members of TRUMP remain anonymous.
Compared to other MEMEs, TRUMP also falls into the PolitiFi category, which poses a barrier for its listing on major exchanges. Steven Steele has stated that the TRUMP team has attempted to list on several exchanges, including Kraken, this year but failed due to the political nature of the TRUMP token, which could pose political risks to the exchanges.
Legendary Trader GCR's Layout, Maximum Earnings Address Exceeds $14 Million
The address ranked fourth in TRUMP token holdings (also the largest individual holding address) is marked as GCR, holding 966,000 TRUMP, accounting for about 1.99%. This address began purchasing TRUMP tokens on December 9, 2023, with a total investment of about $700,000, and its current holding value has reached $7.26 million, yielding over 10 times. The cost of the earliest batch of purchases was only $0.27, and the price has nearly increased by 30 times since then.
According to community speculation, GCR may refer to GCRClassic, also known as Giant Cassock Revival, an OG trader who might have profited the most from the FTX and Luna collapses. In July 2022, GCR expressed optimism about Trump as the Republican candidate for 2024 on social media and suggested going long on Trump-related concept stocks and cryptocurrencies. Based on GCR's entry time, his strategy seems to be to maintain a positive outlook on Trump and then wait for related concept coins to emerge in the market before buying and holding long-term.
Trump himself or his team's holding address currently holds 579,000 TRUMP, valued at about $4.5 million. However, Trump himself did not spend money to purchase this token; these tokens came from official donations from TRUMP, with the earliest donation on August 19, 2023, totaling 469,901 tokens, valued at $4,214 at that time (currently worth $3.55 million). Subsequently, this address received about 100,000 TRUMP tokens.
To date, most Trump-related token projects choose to donate tokens to this address, which now holds over 1,300 types of tokens, with a total holding value exceeding $9.52 million.
0x63a7C66b7ef9beDF7Bb3BA36cE3f831a50eF33B2
This address's holdings closely follow Trump's address, making it one of the most profitable traders as well. This address began purchasing 470,000 TRUMP tokens on August 12, 2023, spending 1.1 ETH, and these tokens are now valued at $3.59 million. This investment has achieved a return rate of 1,795 times. Later, this address continued to increase its holdings, with a total investment of $49,235, and as of now, it has sold $1.99 million worth of tokens, with a total profit of $5.76 million.
0xf8Ce9f1bD06C7559ff45336D55B1C9de46CE019D
(This address, waxl.eth, is a master of MEME coin trading and has made the most profit on TRUMP. Its main success comes from TRUMP, with profits exceeding $14 million from TRUMP tokens. The earliest investment was only $5,000. From its @WaxlNakamoto Twitter account, it appears to be a loyal fan of Chainlink.
Does Presidential Expectation Always Favor the Market?
From the trend of TRUMP, the peak in March was due to Trump being restored to the presidential primary eligibility. The highest price in early June exceeded $17, when Trump was found guilty by a jury. From a positive perspective, this news was not favorable for Trump, yet it still drove the price of this token to surge wildly.
However, the incident involving Trump did not bring the anticipated surge to the TRUMP token; instead, from the market's performance, the attention on the TRUMP token is being diverted to other new Trump-related tokens. As Trump's campaign process reveals more characteristic content, new tokens like Fight, EAR, and Fear Not are gradually further eroding the market share of the TRUMP token.
After the Trump incident, TRUMP saw a 40% increase on July 13, but then it retraced about 20% in the following days. Moreover, this increase can only be considered a rebound on the candlestick chart and does not reflect the event's heat.
In contrast, several newly issued Trump-themed tokens have emerged. The FIGHT token was launched on Ethereum on July 14, with an opening price of 0.0002386, and peaked at 0.08128 by July 17, achieving a staggering increase of 340 times. Another token, FEAR NOT, has also seen nearly a thousand-fold increase since its launch. From the perspective of wealth effect, these new tokens indeed offer better cost performance.
However, with TRUMP's market cap reaching $340 million, it may be difficult for other Trump-related tokens to surpass it in the short term. As the presidential campaign enters a more intense phase, it is believed that more Trump or other political concept coins will emerge. Whether the TRUMP token can maintain its leading position still requires time to test. For investors, gaining insights from the investment strategies of the whales may be even more important.
