Trader Earned 18,600 Percent ROI in Two Weeks Investing in MAGA

According to LookOnChain, a trader earned about $3 million in 11 days trading altcoins. He managed to turn his $16.4 thousand into $3.07 million in less than 2 weeks. The return on investment amounted to a jaw-dropping 18,600%, thanks to the purchase of the meme token MAGA. Analysts emphasized that against the background of the hype around this class of digital assets and the rising popularity of Donald Trump, the owner of the wallet whalefud.eth received a gargantuan profit.

It was reported that the investor picked MAGA token just 1 hour after the token was listed on exchanges on May 16 and exchanged 3 ETH for 5.34 billion MAGA. Later, the trader spent 2 more ETH, buying 56.8 million MAGA during a correction on May 21. He now has 5.39 billion MAGA worth $3.07 million on his balance sheet.

One of the key factors contributing to the growth of MAGA tokens has been Trump's statements of support for cryptocurrencies. In May 2024, Trump confirmed that his campaign is accepting donations in digital assets. He also emphasized his positive attitude towards the industry as opposed to Joe Biden's administration. It is worth noting that similar digital currencies, including Donal Trump and the so-called Independence Token, have also exhibited significant growth over the past few days.

Experts believe that the popularity of Trump-related meme tokens is largely driven not only by political agenda, but also by the opportunity to make a quick profit. Many investors see this as a chance at a potentially lucrative investment, similar to the success of Dogecoin (DOGE).