A cryptocurrency trader has managed to bag a 6,208% profit in a mere four days, trading Melania Trump‘s official meme coin MELANIA MELANIA/USD.
What Happened: According to the blockchain tracking firm Lookonchain, the trader bought 5.2 million MELANIA coins at $0.13 each, immediately after the digital asset was launched last week, a day before Donald Trump‘s presidential inauguration.
Four days after the purchase, the trader sold all his MELANIA tokens, realizing a 6,208% profit on his initial investment of $688,000. This translated to a whopping $42.7 million profit.
“This guy has sold all MELANIA, making a total profit of $42.7 million (62x)! He spent 2,500 SOL ($688,000) to buy 5.2 million MELANIA at $0.13, and sold all of them at an average price of $8.34 for $43.4 million, making a profit of $42.7 million, a 62x return!” Lookonchain was quoted saying.
Also Read: Donald Trump’s Meme Coin ‘TRUMP’ Rallies 103% in a Day, Creates Billions Out of Thin Air
Lookonchain also highlighted another trader who made significant gains as an early investor in MELANIA.
Why It Matters: The MELANIA meme coin was launched by First Lady Melania Trump a day after then President-elect Trump had launched his own meme coin.
At the time of writing, MELANIA is trading for $2.76, down 19.5% in the last 24 hours. The Solana (SOL)-based meme coin has a market cap of $413.8 million, making it the 227th largest crypto project.
This event underscores the volatile and high-risk, high-reward nature of the cryptocurrency market, particularly with new coin launches.
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