Cryptocurrency investors generated over $100 million within a single day on Melania Trump’s memecoin. A select group of cryptocurrency ‘sniper’ traders amassed $99. 6 million by acquiring Melania Trump’s memecoin mere minutes prior to its public unveiling, as disclosed in a recent report on Tuesday.
The first lady revealed her ‘$MELANIA’ cryptocurrency the evening prior to Donald Trump’s inauguration for his second term.
However, in the two and a half minutes preceding her post’s activation on Truth Social, approximately two dozen digital wallets purchased $2. 6 million of the coin and profited when the token prices surged after her announcement of their availability, as determined by the Financial Times.
Meme coins are typically regarded as highly speculative investments due to their susceptibility to insider trading and significant volatility.
These coins can be created and introduced by anyone, with thousands currently in circulation.
The value of these coins can escalate dramaticallyrising from negligible amounts to substantial figuresif demand for them increases.
Accounts that invest heavily and earlytaking the risk that the value may soarare identified as ‘snipers. ‘
One account invested $681,000 in the $MELANIA memecoin just 64 seconds prior to the first lady’s announcement of the cryptocurrency.
Within 24 hours, this account realized a profit of $39 million from the sale of the memecoin, as indicated by the FT analysis.
Melania launched her memecoin on January 19th, two days following Donald Trump’s introduction of his $TRUMP coin.
There were no pre-announcement transactions involving the president’s memecoin, with the initial sale occurring seconds after he unveiled the cryptocurrency on Truth Social.
Nevertheless, the entities behind the $TRUMP launch garnered at least $350 million from token sales and market-making fees.
$MELANIA is promoted by MKT World LLC, the first lady’s own enterprise that she has utilized for her various business pursuits.
