Crypto investors continue to write their own rags-to-riches stories with early investments in new meme coins.
Data from Lookonchain reveals that an early TRUMP buyer has turned $96 into over $3 million, securing an astronomical return on investment of nearly 3,124,900%.
What can you do with $96?
This guy made over $3M with only $96, a 32,000x return!
He spent only 0.052 $ETH($96) to buy 608,650 $TRUMP on Aug 12, 2023, and started selling $TRUMP for a profit 6 hours ago.
So far, he has sold 6K $TRUMP for 11.4 $ETH($30K), leaving 594,564… pic.twitter.com/OacHY6a4RW
— Lookonchain (@lookonchain) October 18, 2024
With the election frenzy reaching a fever pitch in the lead-up to the US Presidential Elections on November 5th, new PolitiFi coins are seeing significant demand as investors hunt for outsized returns. The bull market euphoria is only adding to the FOMO.
For instance, a new meme coin FreeDum Fighters has already raised nearly $231k in its ICO. It has also caught the eye of prominent crypto influencers, a few of whom are even calling it the next 100x crypto.
Trader Turns $96 Into $3M, Will PolitiFi Coins Create The Next Crypto Millionaires?
The unknown trader (0x2280e04e841024e43F0976E5d4344Fa95F2bE065) invested just 0.052 ETH worth $96 to buy 608,650 MAGA (TRUMP) coins on August 12, 2023, shortly after the token went live.
After his TRUMP holdings hit the $3 million mark on October 18th, he started to lock in the profits and has already sold over 60% of his position. He is still holding 383,363 MAGA coins, which are currently valued at $1.13 million.
Notably, his position was once worth over $10 million in early June, considering that the TRUMP coin was trading at over $17.
The MAGA price has plunged after news broke that famous crypto investor GCR (@GiganticRebirth) is also liquidating his position in the PolitiFi meme coin.
Legendary trader GCR(@GiganticRebirth) deposited 466K $TRUMP($2.4M) to #MEXC 40 mins ago, causing the price to drop by 10%.#GCR spent 703K $USDT to buy 936K $TRUMP at $0.75 from Dec 9, 2023 to Jan 19, 2024.
He currently holds 470K $TRUMP($2.28M), with a profit of ~$4M!… pic.twitter.com/3i6iqdckV9
— Lookonchain (@lookonchain) October 19, 2024
The TRUMP price is currently down 25% over the past day and is trading at $2.92. However, considering that Donald Trump’s lead on Polymarket continues to balloon with less than two weeks to go in the election, it wouldn’t be a surprise if the meme coin price soars once again.
Indeed, the MAGA price could push towards a new all-time high in the event of a Trump victory, especially if the Bitcoin price maintains its bullish trajectory.
However, new TRUMP buyers will continue to face considerable risk as well. As the name suggests, MAGA is a hyper-partisan meme coin, which is one of the key reasons why it hasn’t been listed on several top-tier exchanges.
While former President Trump’s Polymarket odds continue to soar, political polls continue to call the race a toss-up, with even a small edge for Vice President Kamala Harris. If Trump loses, the MAGA price could plummet.
For instance, Jeo Boden (BODEN) – another PolitiFi meme coin – plummeted after President Joe Biden dropped out from the race. It is currently trading 99% below its all-time high.
Contrary to these hyper-partisan projects, smart money investors appear to be stacking FreeDum Fighters to capitalize on the ongoing election frenzy.
Could FreeDum Fighters Be The Next 100x Crypto?
The strong early demand for FreeDum Fighters (DUM) indicates that it could be the next big PolitiFi project. Indeed, the DUM presale has raised $231k in its ICO in just 4 days.
Today we celebrate FreeDum.
$200k raised in the $DUM presale
pic.twitter.com/5a7qH9U1va
— FreeDum Fighters (@Freedum_Fighter) October 21, 2024
As previously stated, FreeDum Fighters isn’t a hyper-partisan project. Instead, it is simulating the Presidential race in an alternate universe, allowing token holders to pick their own champion and earn attractive rewards for it.
The project has two champions – MAGATRON and Kamacop 9000, each with its own staking pool. DUM holders can cast their vote by staking their coins in either pool and earn attractive staking rewards.
Alternatively, they can participate in the weekly debates on behalf of their champion, make new friends and earn a secret airdrop if they win the event.
This entertaining and rewarding twist on a rather vicious Presidential Race has impressed prominent crypto investors. Some experts are already calling it one of the best meme coins to buy now, while others are eyeing anywhere between 10x and 100x returns from it.
