Author: Frank, PANews
Recently, with the occurrence of the Trump attack incident, many Trump-related concept MEME coins once again dominated the market. The highest market value Trump-themed MEME coin, TRUMP, has been in circulation for nearly a year, with the highest increase exceeding 335,000 times, and a market value that once approached 800 million US dollars, creating many wealth myths on TRUMP.
Why can TRUMP stand out among many concept coins? How did these whales capture such a wealth code? PANews explores the reasons behind this, which may provide some inspiration to the community.
A Cryptocurrency Campaign Base Built by Supporters?
MGAG (token code Trump) was issued on the Ethereum chain on August 11, 2023, the day when the judge presiding over the Trump case issued a protective order to Trump. Influenced by this news, the Trump token was issued. Strictly speaking, the TRUMP token is different from traditional MEME coins. In addition to having an exclusive website and social media like other MEME coins, the TRUMP token's operator is not as keen on playing jokes as other MEME coins.
In actual operation, the TRUMP project has donated 550 ETH (worth 1.74 million US dollars) to veterans and children's rescue organizations over 48 weeks, and has attracted little attention through the production of MEME images. This operation indeed makes it look more like a part of Trump's campaign team rather than a gathering place for speculators.
The currently publicized participant in TRUMP is Steven Steele, who claims to be the marketing director of the TRUMP token. His public introduction on Twitter includes being 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 official event host on the website is Shawn Farash, a Trump supporter and constitutional conservative. As of now, other team members of TRUMP remain anonymous.
Compared with other MEME coins, TRUMP also falls into the PolitiFi category, which is an obstacle to its listing on major exchanges. Steven Steele has stated that the TRUMP team attempted to list on multiple exchanges such as Kraken this year, but failed because the TRUMP token is too politicized and may bring political risks to the exchanges.
Legendary Trader GCR's Layout, Largest Profit Address Exceeds 14 Million US Dollars
The address ranked fourth in TRUMP token holdings (also the largest individual holding address) is marked as GCR, holding 966,000 TRUMP tokens, accounting for approximately 1.99%. This address began buying TRUMP tokens on December 9, 2023, and has invested approximately 700,000 US dollars in total to purchase TRUMP tokens. The current holding value has reached 7.26 million US dollars, with a return rate of over 10 times. The earliest batch of additional purchases cost only 0.27 US dollars, which has since increased nearly 30 times in price.
According to community speculation, GCR may refer to GCRClassic, also known as Giant Cassock Revival, an OG trader who may have made the most profit from the FTX and Luna crashes. In July 2022, GCR expressed optimism about Trump as the Republican candidate in 2024 and recommended going long on Trump-related concept stocks and cryptocurrencies on social media. Judging from GCR's entry time, his strategy should be to continue to be bullish on Trump, and then wait for related concept coins to emerge in the market and hold them for the long term.
Trump himself or his team currently holds 579,000 TRUMP tokens, worth approximately 4.5 million US dollars. However, Trump himself did not spend money to purchase the tokens, as these tokens all came from donations from the official TRUMP, with the earliest donation being 469,901 tokens on August 19, 2023, worth 4,214 US dollars at the time (currently worth 3.55 million US dollars). Later, this address received approximately 100,000 TRUMP tokens in succession.
To this day, most Trump-related token projects will choose to donate tokens to this address. Currently, this address holds tokens of over 1,300 varieties, with a total holding value exceeding 9.52 million US dollars.
0x63a7C66b7ef9beDF7Bb3BA36cE3f831a50eF33B2
This address's holdings closely follow Trump's address and can be considered one of the traders who have also made the largest profits. This address began spending 1.1 ETH to purchase 470,000 TRUMP tokens on August 12, 2023, which are now worth 3.59 million US dollars. This represents a return rate of 1,795 times. Later, this address continued to increase its holdings, with a total investment of 49,235 US dollars. As of now, it has sold 1.99 million US dollars' worth of tokens, with a total holding profit of 5.76 million US dollars.
0xf8Ce9f1bD06C7559ff45336D55B1C9de46CE019D
(waxl.eth) This address is a master of MEME coin trading and is the account that has made the most profit on TRUMP. The main success comes from TRUMP, with a current holding profit of over 14 million US dollars from TRUMP tokens. The earliest investment from this address was only 5,000 US dollars. Judging from their @WaxlNakamoto Twitter account, they are also a loyal fan of Chainlink.
Is the President's Expectation Always Good for the Market?
Looking at the trend of TRUMP, the source of the high point in March was the restoration of Trump's eligibility for the presidential primaries. The highest price in early June exceeded 17 US dollars, at which time Trump was convicted by the jury. From a positive perspective, this news was not favorable to Trump, but it still drove the price of this token to rise crazily.
However, the Trump attack incident did not bring the expected surge to the TRUMP token. Instead, from the market's performance, the attention on the TRUMP token is being diverted by other new Trump-themed tokens. With more distinctive content emerging from Trump's campaign process, such as Fight, EAR, Fear not, new tokens are gradually eating into the market share of the TRUMP token.
After the Trump attack incident, TRUMP also saw a 40% increase on July 13, but then dropped by about 20% in the following days. Moreover, this increase can only be considered a rebound on the candlestick chart and does not reflect the heat of this event.
In contrast, several newly issued Trump-themed tokens, such as the FIGHT token, went online on Ethereum on July 14, with an opening price of 0.0002386, and rose to 0.08128 by July 17, an increase of up to 340 times. Another token, FEAR NOT, has also seen nearly a thousand-fold increase from its opening. From the perspective of wealth effect, the new tokens indeed offer more cost-effectiveness.
However, with a market value of 340 million US dollars, TRUMP may be difficult for other short-term Trump-themed tokens to surpass. As the presidential campaign enters a more intense stage, it is believed that more Trump or other political concept coins will emerge. Whether the TRUMP token can still maintain its leading position will still need time to verify. For investors, perhaps gaining inspiration from the investment strategies of these whales is more important.
Related reading: Trump-themed meme coins fluctuate significantly due to news and election prospects, how is the outlook for PoliFi tokens?
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