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Memecoin Trader Made Over $20M With $TRUMP in 1 Hour

On-chain data revealed that about 90 seconds after TRUMP’s launch, a trader spent nearly 1.1 million USDC to buy 5.97 million TRUMP, now worth $23 million.

Avatar image of Jonathan Agozie Jonathan Agozie•January 20, 2025
memecoin

Launching the OFFICIAL TRUMP (TRUMP) memecoin has triggered a frenzy in the cryptocurrency market, yielding significant profits for early adopters and whales. Data from the blockchain analytics platform Lookonchain revealed that one trader recorded an unrealized profit exceeding $20 million in just one hour.

The token, tied to U.S. President-elect Donald Trump, has captured significant market attention, driven by high-profile endorsements and speculative trading. Notably, within 36 hours of its launch, the market cap surged to $10 billion, rising over 200% in the last 24 hours to surpass $13.5 billion. However, it has since corrected and is consolidating around $11.7 billion, according to CoinMarketCap.

Whales Make Millions in $TRUMP Trades

According to Lookonchain, approximately 90 seconds after Trump announced TRUMP’s launch on Truth Social, one trader spent almost 1.1 million USDC to purchase 5.97 million TRUMP tokens, now valued at $23 million. While only 543,000 tokens have been sold for $404,000, the remaining 5.43 million tokens, worth $21 million, leave him with an unrealized profit of over $20 million.

In another significant transaction, a whale bridged 63.9 million USDC to the Solana blockchain and borrowed 23.4 million USDC via Kamino to acquire TRUMP and Solana (SOL). The whale spent 11.5 million USDC to buy 1 million TRUMP tokens at an average price of $11.50, now valued at $43.3 million, yielding an unrealized profit of $31.8 million.

Additionally, the whale allocated 75.8 million USDC to purchase 312,571 SOL at an average price of $242.59, which has increased in value to $85.6 million. This represents an unrealized profit of $9.8 million.

Exchange Listings Propel Market Excitement

Major exchange listings have fueled the TRUMP token’s momentum. Binance announced it would begin trading the meme token against USDT and BTC on January 19 at 8:30 UTC. Coinbase also added the meme coin to its listing roadmap, further boosting market interest.

Meanwhile, OKX launched TRUMP spot trading and enabled deposits, leading to notable activity. Notably, an address deposited 579,133 TRUMP tokens, valued at $16.29 million, into OKX. The address had acquired the tokens for 1 million USDC at an average price of $1.72, resulting in an anticipated profit of $15.29 million, a 1,529% return.

Jonathan Agozie

Jonathan Agozie is a writer dedicated to delivering clear, well-researched, and technically accurate content on blockchain, cryptocurrency, and Web3 technologies. With a strong background in these fields, he simplifies complex topics for a broad audience, ensuring clarity without compromising depth.