In the past 24 hours, $MAGA (@MAGAMemecoin) has surged by 25.62%, while $TRUMP on Ethereum has broken past the $170 million market cap, now trading at $4.
This rise coincides with a growing momentum in favor of Donald Trump’s presidential chances, with Polymarket showing Trump leading with 51% against Kamala Harris.
BREAKING: Donald Trump is now leading with 51% on Polymarket. 🇺🇸 pic.twitter.com/k4bHPT4oS2
— DogeDesigner (@cb_doge) October 7, 2024
Elon Musk added fuel to the fire when he reacted to Polymarket’s prediction of Trump winning against Harris.
Musk commented that Polymarket’s predictions, which involve actual financial stakes, tend to be more accurate than traditional polls.
In response to Musk’s live speech supporting Trump, the Polymarket odds for the 2024 U.S. presidential election shifted significantly. Trump’s chances of winning rose to 50.6%, while Harris’s odds dropped to 48.4%.
👀@elonmusk react to @Polymarket 's prediction of #Trump winning against #KamalaHarris. Says, #Polymarket is more accurate than polls as actual money is on the line 🇺🇸
🔥#ElonMusk 's live speech supporting #Trump shows high chances of @realDonaldTrump winning the #USElections.… pic.twitter.com/TkqhcG7357
— Crypto News (CoinGape) (@CoinGapeMedia) October 7, 2024
One Whale Trader Makes $113K In Profits From Trading $TRUMP and $MAGA
One savvy trader capitalized on this momentum, making $113,000 in profit (a 31.5% increase) in just 17 hours by betting on $TRUMP and $MAGA.
As soon as Musk’s speech began yesterday, this trader made bold moves, investing 360K $USDC to purchase 2.449 billion $MAGA ($300K) and 18,364 $TRUMP ($60K).
Thanks to the surge in these tokens, the value of these holdings now stands at $398K and $75.3K, respectively, netting a tidy profit of $113K.
This trader is up $113K (+31.5%) in just 17 hours by betting on #memecoins $TRUMP and $MAGA after @elonmusk's pro-Trump speech.
As soon as Elon Musk’s live speech began yesterday, he spent 360K $USDC to snag 2.449B $MAGA ($300K) and 18,364 $TRUMP ($60K).
Now, these holdings are… pic.twitter.com/t23m12dgb2
— Spot On Chain (@spotonchain) October 7, 2024
With the combined influence of Elon Musk’s endorsement and rising Polymarket odds, both $MAGA and $TRUMP have shown significant upward momentum, making them some of the most talked-about tokens in the crypto space right now. As the U.S. presidential race heats up, these meme coins could see even more action in the days ahead.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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Image Source: solarseven/123RF // Image Effects by Colorcinch
