{"id":14473,"date":"2024-06-18T18:10:30","date_gmt":"2024-06-18T15:10:30","guid":{"rendered":"https:\/\/forklog.com\/en\/insiders-profit-from-trump-linked-meme-coins\/"},"modified":"2024-06-18T18:10:30","modified_gmt":"2024-06-18T15:10:30","slug":"insiders-profit-from-trump-linked-meme-coins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/insiders-profit-from-trump-linked-meme-coins\/","title":{"rendered":"Insiders Profit from Trump-Linked Meme Coins"},"content":{"rendered":"<p>A wallet, suspected to belong to an insider, acquired large volumes of the meme token TrumpCoin (DJT) based on Solana, which the community <a href=\"https:\/\/x.com\/PirateWires\/status\/1802825492405669930\">attributed<\/a> to Barron, the youngest son of U.S. presidential candidate Donald Trump. Analysts at Lookonchain noted this activity.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Note that a fresh wallet(maybe an insider) spent 1,363 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($188K) to buy 52.09M <a href=\"https:\/\/twitter.com\/search?q=%24DJT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$DJT<\/a> before the news that Trump is launching an official token \u2014 <a href=\"https:\/\/twitter.com\/search?q=%24DJT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$DJT<\/a> on Solana.<\/p>\n<p>After the news, he withdrew another 1,000 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($138K) from <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> to buy 6.62M <a href=\"https:\/\/twitter.com\/search?q=%24DJT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$DJT<\/a>.<\/p>\n<p>He currently holds 58.71M\u2026 <a href=\"https:\/\/t.co\/WaSEfUrXBh\">pic.twitter.com\/WaSEfUrXBh<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1802987811320238400?ref_src=twsrc%5Etfw\">June 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to their observations, the user <a href=\"https:\/\/solscan.io\/account\/8JJ12xppiz83HYsxHGtuReaRUqwr9yM6Q6sJ4d2Y8KtD#transfers\">exchanged<\/a> 1363 SOL ($188,000) for 52.09 million DJT before the post about the new coin was published. Immediately after the announcement, he purchased an additional 6.62 million DJT for 1000 SOL ($138,000).<\/p>\n<p>The user&#8217;s balance now holds 58.71 million DJT ($1.56 million), making him the third-largest holder of the meme coin.<\/p>\n<p>Another trader was less fortunate. He spent 2500 SOL ($342,100) to <a href=\"https:\/\/solscan.io\/tx\/3Ne8ma624Vj6Wdyz58uemBmu2J1FFHAxMupVnhPWyMea9LTCMpQJcL6Ew2Hbp8dbxHge24aw6Z3GTvJZqsAJKSRR\">buy<\/a> 91,705.6 DJT, but when attempting to sell the token immediately, due to price slippage, he <a href=\"https:\/\/solscan.io\/tx\/5s3hM7KFnQSSG7ZMbnmpyowY34tWG55wremdcbHr6mGiZ4B8qf3g8rZH6TUXHGByuQnfLUh4M7EyLqY3q5Yf9L74\">received back<\/a> only 4.91 SOL ($673). The loss amounted to $341,400 in less than a minute.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">What a sad story!<\/p>\n<p>This guy spent 2,500 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($342.1K) to buy 91,705.6 <a href=\"https:\/\/twitter.com\/search?q=%24DJT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$DJT<\/a> but only got 4.91 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($673) back when he sold it.<\/p>\n<p>He lost $341.4K in less than 1 minute!<a href=\"https:\/\/t.co\/jrL0ZGa76D\">https:\/\/t.co\/jrL0ZGa76D<\/a><a href=\"https:\/\/t.co\/qICy7GZfmj\">https:\/\/t.co\/qICy7GZfmj<\/a> <a href=\"https:\/\/t.co\/olr78X8snp\">pic.twitter.com\/olr78X8snp<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1802978705771303306?ref_src=twsrc%5Etfw\">June 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analytical services warned of a high likelihood of insider trading with the DJT token. According to Bubblemaps, 67% of the meme coin&#8217;s supply is concentrated in one cluster of addresses.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">no way <a href=\"https:\/\/twitter.com\/search?q=%24DJT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$DJT<\/a> is actually from Donald Trump<\/p>\n<p>67% of the supply in one cluster <\/p>\n<p>please don&#8217;t ?<a href=\"https:\/\/t.co\/0pOqSIhwHq\">https:\/\/t.co\/0pOqSIhwHq<\/a> <a href=\"https:\/\/t.co\/QGuU7vyeEj\">https:\/\/t.co\/QGuU7vyeEj<\/a> <a href=\"https:\/\/t.co\/qVCG7OAGL1\">pic.twitter.com\/qVCG7OAGL1<\/a><\/p>\n<p>\u2014 Bubblemaps (@bubblemaps) <a href=\"https:\/\/twitter.com\/bubblemaps\/status\/1802837625381777812?ref_src=twsrc%5Etfw\">June 17, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Amid such reports and the overall negative market trend, many thematic tokens linked to the former U.S. president fell by more than 30%.\u00a0<\/p>\n<p>Large holders of the MAGA (TRUMP) coin sought to profit from this. According to Lookonchain, one address sold 171,842 TRUMP for 414 ETH ($1.44 million) at $8.38 within a day, earning approximately $3.7 million (+1428%).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Many <a href=\"https:\/\/twitter.com\/search?q=%24TRUMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TRUMP<\/a> whales sold <a href=\"https:\/\/twitter.com\/search?q=%24TRUMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TRUMP<\/a> for profits today!<\/p>\n<p>0x52C0 sold 171,842 <a href=\"https:\/\/twitter.com\/search?q=%24TRUMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TRUMP<\/a> for 414 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($1.44M) at $8.38 in the past 24 hours and made ~$3.7M(+1428%) on <a href=\"https:\/\/twitter.com\/search?q=%24TRUMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TRUMP<\/a>.<a href=\"https:\/\/t.co\/ypys8DwW0p\">https:\/\/t.co\/ypys8DwW0p<\/a><\/p>\n<p>sighduck.eth sold 173,542 <a href=\"https:\/\/twitter.com\/search?q=%24TRUMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TRUMP<\/a> for 1.25M <a href=\"https:\/\/twitter.com\/search?q=%24USDC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDC<\/a> in one trade 8 hours ago and made\u2026 <a href=\"https:\/\/t.co\/9t5F1Qn6za\">pic.twitter.com\/9t5F1Qn6za<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1802966623592329565?ref_src=twsrc%5Etfw\">June 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A second whale with the address sighduck.eth sold 173,542 TRUMP for $1.25 million in a single transaction, earning $1.88 million (+1500%).<\/p>\n<p>A third holder exchanged 128,059 TRUMP for 204 ETH ($703,600), gaining a profit of $648,000 (+1164%).<\/p>\n<p>During a fundraising event for his campaign, Donald Trump expressed his intention to become the cryptocurrency president. He positioned himself as a defender of digital assets and criticized Democratic initiatives to regulate the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A wallet, suspected to belong to an insider, acquired large volumes of the meme token TrumpCoin (DJT) based on Solana, which the community attributed to Barron, the youngest son of U.S. presidential candidate Donald Trump. Analysts at Lookonchain noted this activity. Note that a fresh wallet(maybe an insider) spent 1,363 $SOL($188K) to buy 52.09M $DJT [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1227,991,1161],"class_list":["post-14473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-transactions","tag-donald-trump","tag-memes"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/14473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=14473"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/14473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/14472"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=14473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=14473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=14473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}