Trader Nets $2.7M In 3 days Trading MAGA Token
A MAGA (TRUMP) meme token trader has reaped a massive fortune of $2.7 million in just three days of trading.
Lookonchain, an on-chain analytics firm, shared a post on X revealing that a trader with wallet address 0x303b9 invested $535,000 to buy 6 billion MAGA tokens on the 24th and 25th of May.
After their first investment, the trader was able to sell MAGA tokens worth 1.5 billion for 744,000 USDT. At present, the trader possesses 4.5 billion MAGA tokens worth $2.51 million.
The volatile nature of cryptocurrency investments is also demonstrated in this case. Previously, the trader’s wallet was worth more than $4 million, which reveals the high volatility of cryptocurrency trading. The cryptocurrency market presents both a great opportunity for high returns and risk-taking at the same time.
As of the writing time, MAGA is trading at a price of $11.29, with a percentage decline of 11.66% as reported by Coinmarketcap.
Source: Coinmarketcap
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